Supplement to 'Competing on Speed': Online Appendices
Imperial College Business School
New York University (NYU) - Department of Finance; National Bureau of Economic Research (NBER)
April 22, 2015
This supplement comprises an appendix on the security exchange industry, proofs of propositions and lemmas in the main paper, and two model extensions: Trading fees and investor multivenue affiliation.
The paper "Competing on Speed" to which these Appendices apply is available at the following URL: http://ssrn.com/abstract=1967156
Number of Pages in PDF File: 37
Keywords: liquidity, fragmentation, welfare, regulation, asset prices, trading venues, trading speed, high-frequency-trading, exchanges
JEL Classification: G12, G15, G18, D40, D43, D61
Date posted: April 30, 2012 ; Last revised: April 23, 2015
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