Stock Exchange Law: Concept, History, Challenges

48 Pages Posted: 29 May 2012 Last revised: 27 Jan 2016

See all articles by Andreas Martin Fleckner

Andreas Martin Fleckner

Humboldt University of Berlin - Faculty of Law; Max Planck Institute for Comparative and International Private Law

Klaus J. Hopt

Max Planck Institute for Comparative and International Private Law; European Corporate Governance Institute (ECGI)

Abstract

The fundamentals of stock exchange law have received less attention than their economic, social, political, and legal weight calls for. This paper aims to change that. First, we point readers to the concept and history of stock exchange law as an important subject for contemporary research. Second, we hope to inspire such research by presenting a brief overview of the most important sources that could form the core of a comprehensive study. As we explain in light of recent developments, there are good reasons to believe that the long history of stock exchange law is about to enter into a new era.

Note: This article is published in this Research Paper Series with the kind permission of the Virginia Law & Business Review in accordance with its Copyright Agreement.

Keywords: stock exchange, bourse, securities trading, demutualization, internationalization, market fragmentation, algorithmic trading

JEL Classification: G15, G18, G28, G32, G38, K22, L33, N20, N40

Suggested Citation

Fleckner, Andreas Martin and Hopt, Klaus J., Stock Exchange Law: Concept, History, Challenges. Virginia Law & Business Review (VLBR), Vol. 7, No. 3, pp. 513-559, 2013; Max Planck Private Law Research Paper No. 14/4. Available at SSRN: https://ssrn.com/abstract=2068574 or http://dx.doi.org/10.2139/ssrn.2068574

Andreas Martin Fleckner (Contact Author)

Humboldt University of Berlin - Faculty of Law ( email )

Unter den Linden 6
Berlin, 10099
Germany

Max Planck Institute for Comparative and International Private Law ( email )

Mittelweg 187
Hamburg, 20148
Germany

Klaus J. Hopt

Max Planck Institute for Comparative and International Private Law ( email )

Mittelweg 187
D-20148 Hamburg
Germany
+49 40 41 90 02 05 (Phone)
+49 40 41 90 03 02 (Fax)

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

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