Work

Catching up with Technology — The Impact of Regulatory Changes on ECNs/MTFs and the Trading Venue Landscape in Europe

Year: 2006

Type: article

Abstract: With RegNMS in the US and MiFID in the EU, regulators respond to recent years' changes in trading concepts and infrastructures. Both try to catch up with technological advances and intend to create a level playing field between the different types of trading venues and a harmonisation in the order execution process. The paper illustrates and analyses the regulatory environments and the impact of their upcoming changes on ECNs and MTFs with a specific focus on Europe. Scenarios will be developed on how the regulatory overhauls will alter the competitive landscape between Regulated Markets, ECNs/MTFs and order flow internalising entities.

Source: Competition and Regulation in Network Industries

DOI: 10.1177/178359170600100401

Authors: Peter Gomber, Markus Gsell

Institution: Goethe University Frankfurt

Language: English

Topic: Finance, Markets, and Regulation

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2114095746

FWCI: 5.104

Cites: 10

Cited by: 32

Related to: 10