Competing with the NYSE - University of Notre Dame.docVIP

Competing with the NYSE William O. Brown, Jr. Department of Accounting and Finance University of North Carolina at Greensboro J. Harold Mulherin Department of Banking and Finance University of Georgia Marc D. Weidenmier Department of Economics Claremont McKenna College and NBER Abstract Research on information economics and securities markets dating back to Stigler (1961, 1964) argues that trading will tend to centralize in major market centers such as the New York Stock Exchange (NYSE). The NYSE’s recent mergers with Archipelago and Euronext bring questions about the viability and effects of