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The Economic Function of a Stock Exchange

  • Robert A. Schwartz
  • John Aidan Byrne
  • Lauren Wheatley

Table of contents

  1. Front Matter
    Pages i-xxv
  2. Andrew Brooks, Alfred Berkeley, Gary Katz, William O’Brien, Brett Redfearn, Asani Sarkar
    Pages 13-32
  3. Joe Cangemi, Bill Harts, Alasdair Haynes, Peter Jenkins, Rob Howe, Gary Stone et al.
    Pages 43-62
  4. Bruce Weber, Ian Domowitz, Pinar Emirdag, Frank Hatheway, Tim Mahoney, Joe Rosen et al.
    Pages 63-84
  5. David Weild, Gregory L. Wright, Barry E. Silbert, Hüseyin Erkan, Joseph Hall, Steve Wunsch
    Pages 85-116
  6. Larry Leibowitz
    Pages 117-129

About this book

Introduction

In recent years, exchanges on both sides of the Atlantic have been extensively reengineered, and their organizational structures have changed from non-profit, membership organizations to for-profit, demutualized organizations. Concurrently, new alternative trading systems have emerged and the traditional functions of broker/dealer firms have evolved. How have these changes affected the delivery of that mission? How has the efficiency of capital raising in the IPO market been impacted? These are among the key questions addressed in this book, titled after the Baruch College Conference, The Economic Function of a Stock Market. Featuring contributions from a panel of scholars, academicians, policymakers, and industry leaders, this volume examines current issues affecting market quality, including challenges in the marketplace, growth opportunities, and IPO capital raising in the global economy.

The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.​

Keywords

Consolidation Dark Pools Equity Market Quality Fragmentation IPO Capital Raising Transaction Costs

Editors and affiliations

  • Robert A. Schwartz
    • 1
  • John Aidan Byrne
    • 2
  • Lauren Wheatley
    • 3
  1. 1.Zicklin School of BusinessBaruch College/CUNYNew YorkUSA
  2. 2.New YorkUSA
  3. 3.Zicklin School of BusinessBaruch College/CUNYNew YorkUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-10350-1
  • Copyright Information Springer International Publishing Switzerland 2015
  • Publisher Name Springer, Cham
  • eBook Packages Business and Economics
  • Print ISBN 978-3-319-10349-5
  • Online ISBN 978-3-319-10350-1
  • Buy this book on publisher's site