Basic trends in the market for markets for financial instruments

Stefan Prigge ()
Additional contact information
Stefan Prigge: University of Hamburg, Postal: Von-Melle-Park 5, 20146 Hamburg, Germany, http://www.uni-hamburg.de/

Journal of Financial Transformation, 2001, vol. 3, 35-44

Abstract: In recent years, a large number of IPOs of public exchanges have been announced. These were mainly in response to growing pressure from the institutional investor community and intense competition from Alternative Trading Systems, such as ECNs. When these announcements were initially made, most anticipated a move to a more customer-centric business model, with profit-maximization the ultimate objective. Unfortunately the reality is very different. The sell-side has maintained its control, through large ownership of shares, in these new publicly traded exchanges and has made it difficult for them to pursue their goal of profit maximization. This paper describes how the market for markets has evolved in recent years and what steps are necessary in order to make them more focused on meeting the needs of their customers.

Keywords: IPOs; Alternative Trading Systems; ECNs (search for similar items in EconPapers)
JEL-codes: G20 G24 (search for similar items in EconPapers)
Date: 2001
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:jofitr:1269

Access Statistics for this article

Journal of Financial Transformation is currently edited by Prof. Shahin Shojai

More articles in Journal of Financial Transformation from Capco Institute 77 Water Street, 10th Floor, New York NY 10005.
Bibliographic data for series maintained by Prof. Shahin Shojai ( this e-mail address is bad, please contact ).