What Makes an Exchange a Unique Institution?
               A Response to Ian Domowitz

Robert A. Schwartz; John Aidan Byrne; Andrew M. Brooks

doi:10.3905/jot.2014.9.3.012

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What Makes an Exchange a Unique Institution?
A Response to Ian Domowitz

Robert A. Schwartz, John Aidan Byrne and Andrew M. Brooks

The Journal of Trading Summer 2014, 9 (3) 12-14; DOI: https://doi.org/10.3905/jot.2014.9.3.012

Robert A. Schwartz

is Marvin M. Speiser Professor of Finance and University Distinguished Professor at Baruch College in New York, NY. robert.schwartz@baruch.cuny.edu

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For correspondence: robert.schwartz@baruch.cuny.edu

John Aidan Byrne

is a financial writer, editor, and journalist in Rockaway, NJ. jaidanbyrne@optonline.net

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For correspondence: jaidanbyrne@optonline.net

Andrew M. Brooks

is vice president and head of U.S. Equity Trading at T. Rowe Price Associates, Inc. in Baltimore, MD. abrooks@troweprice.com

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For correspondence: abrooks@troweprice.com

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Abstract

Ian Domowitz always has interesting things to say, and his current comment is no exception. In this reply to his commentary, the authors each present their own comments and thoughts about what it is that makes an exchange unique.

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The Journal of Trading

Vol. 9, Issue 3

Summer 2014

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What Makes an Exchange a Unique Institution?
A Response to Ian Domowitz

Robert A. Schwartz, John Aidan Byrne, Andrew M. Brooks

The Journal of Trading Jun 2014, 9 (3) 12-14; DOI: 10.3905/jot.2014.9.3.012