3rd Bordeaux Workshop in International Economics and Finance : "Alternative Platforms and Organization of Trading Activities"

Страна: Франция

Город: Bordeaux

Тезисы до: 07.09.2015

Даты: 11.12.15 — 11.12.15

Область наук: Экономические;

Е-мейл Оргкомитета: Delphine.Lahet@u-bordeaux.fr

Организаторы: Université de Bordeaux


Markets in Financial Instruments Directive (MiFID) and MiFID2 have deregulated the exchange industry by allowing the entry of new electronic trading platforms, such as Multi Trading Facilities (MTFs) and Organized Trading Facilities (OTFs). Among these platforms, which compete with traditional regulated markets for trading services, some offer a certain transparency of information (lit venues) whereas others ensure the confidentiality of participants and the opacity of transactions (dark pool). The goal of this conference is to gather theoretical, empirical or historical contributions addressing the implications of these innovations, in terms of financial microstructure and industrial organization.

Papers can in particular address the following issues :

- What are the implications of new trading platforms for financial intermediaries (banks, investment firms, brokers, market makers)?

- How do network economics and two-sided markets improve the understanding of financial market organization?

- How does the increasing number of trading platforms affect transaction costs and the profitability of the exchange industry?

- What are the consequences of the different sources of exchanges' revenues on trading organization and fees?

- How does the emergence of new trading platforms interact with mergers and acquisitions in exchange industry?

- Does the emergence of new trading platforms impact the diversication strategies of investors and their performance?

- How does traders' heterogeneity affect their choice of where to route orders and network externalities?

Веб-сайт конференции: http://lare-efi.u-bordeaux4.fr/spip.php?article274