Recent developments in the US capital markets

Mary L. Schapiro

Revue d'Économie Financière, 2006, vol. 82, issue 1, 27-37

Abstract: [eng] The US capital markets are in the process of undergoing significant structural changes. Regulation NMS will more tightly interweave the national market system ; the recently announced transactions by The Nasdaq Stock Market, Inc. and the New York Stock Exchange portend greater consolidation of trading markets in the United States ; NASD’s facility for reporting transactions in the corporate debt market raises issues concerning greater transparency and best execution in that market ; and the Securities and Exchange Commission’s recent proposals on self-regulation will potentially change the governance process of self-regulatory organizations (SROs), require more on-going accountability in the discharge of an SRO’s regulatory responsibilities, and raise issues concerning the proper roles of commercial markets and regulation. This paper seeks to present an overview of these recent events. . JEL classification : G18, G28

Date: 2006
Note: DOI:10.3406/ecofi.2006.4432
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