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Abstract–The Stock Market: Some Considerations of Its Future Structure

Published online by Cambridge University Press:  19 October 2009

Morris Mendelson
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Extract

The goal of American stock market reform is the establishment of a central market in which public orders are executed at the best price obtainable in an environment of competitive market makers. Among the measures needed to achieve this are: a consolidated tape, a consolidated quotation system, and competitive commission rates.

Type
Reform of Financial Institutions and Markets: A Progress Evaluation
Information
Journal of Financial and Quantitative Analysis , Volume 9 , Issue 5 , November 1974 , pp. 829
Copyright
Copyright © School of Business Administration, University of Washington 1974

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References

1 The author has long contended that the exchange trading would eventually be destroyed but did not think that it faced any real threat in the near future. Since the Las Vegas meetings he has reassessed the near-term threat and has concluded that it is very real.