Trading Transparency: At What Speed and Cost?

11 Pages Posted: 12 Dec 2019

See all articles by Charles M. Jones

Charles M. Jones

Columbia Business School

Annalyn Kurtz

affiliation not provided to SSRN

Date Written: November 25, 2019


This paper summarizes the discussions that took place at a recent one-day listening conference on this and related questions hosted by Columbia Business School's Program for Financial Studies and sponsored by a grant from Norges Bank Investment Management under the Norwegian Finance Initiative (NFI). It was held on June 14, 2018 in New York.

The conference was structured as a series of panels that were moderated by academics and comprised regulators, researchers and market participants from the buy side and sell side. There were separate panels on the fixed income markets, equity markets, public versus private markets, technology and innovation, clearing and settlement, and regulation, and the discussions took place under Chatham House rules.

Keywords: market microstructure, post-trade transparency, pre-trade transparency, clearing and settlement

JEL Classification: G14, G24, G28

Suggested Citation

Jones, Charles M. and Kurtz, Annalyn, Trading Transparency: At What Speed and Cost? (November 25, 2019). Available at SSRN: or

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Annalyn Kurtz

affiliation not provided to SSRN

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