Dark pools are equity trading systems that do not publicly display orders. Dark pools offer
potential price improvements but do not guarantee execution. Informed traders tend to trade …

Diving Into Dark Pools* Page 1 Diving Into Dark Pools* Sabrina Buti† Barbara Rindi‡ and
Ingrid M. Werner§ Fisher College of Business The Ohio State University Date: November 17 …

We examine US equity trader use of dark and lit markets. Marketable orders executed in the
dark have lower information content and smaller fill rates. Dark orders take longer to …

Purpose–The purpose of this paper is to consider competition's issues between European
market firms, such as Euronext, and multilateral trading facilities, following Markets in …

Debate on financial market fragmentation has been revived by the rise of dark pools. Our
theoretical setting analyzes the interaction between single-homing heterogeneous investors …

The colorful 'open outcry'trading in the 'pits' of the Chicago futures exchanges and the bell-
ringing opening of trading on the floor of the New York Stock Exchange (NYSE) has long …

Market fragmentation is one of the policy issues which is being continuously discussed
among the regulators in the securities market arena in the United States, Canada and …

The aim of this paper is to account for the observation that banks are both owners and
clients of Multilateral Trading Facilities (MTFs) which were created in Europe after the …

La directive MIF a conduit à la multiplication des systèmes d'exécution des ordres en
Europe. Trois ans après sa mise en place, les effets sont mitigés et amènent à la mise en …

Abstrakty Implementacja Dyrektywy MiFID w roku 2007 stworzyła na obszarze Unii
Europejskiej podstawy prawne do tworzenia nowych platform zorganizowanego obrotu …