Electronic vs. Floor Based Trading
Schwartz, Robert A. / Byrne, John Aidan / Colaninno, Antoinette Historically, specialists and other floor brokers, in direct contact on the trading floor, have been at the heart of operations at the national U.S. equity exchanges. At the other end of the spectrum, electronic trading platforms have characterized most other equity markets globally for many years. Recent developments at the NYSE have moved in this direction, but fundamental questions effecting market quality remain. Can the unique services of...