Symposium on Market Microstructure: Focus on Nasdaq

G. William Schwert

University of Rochester, Rochester, NY 14627
and National Bureau of Economic Research

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Journal of Financial Economics, 45 (July 1997) 3-8

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This special issue of the Journal of Financial Economics includes six articles that analyze the market microstructure of Nasdaq in various ways. The question of the costs of trading on Nasdaq has become contentious in both the academic and legal/regulatory arenas since the Christie and Schultz (1994) article first noted that many actively traded Nasdaq stocks were almost never quoted on odd eighths. The articles in this symposium bring new and interesting insights to this debate.

Key words: Market microstructure, NYSE, Nasdaq, Bid-ask spreads

JEL Classifications: G14, G20, D23

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Cited 7 times in the SSCI and SCOPUS through 2020

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A full-text version of the introduction to this Symposium is available in Acrobat's portable data format (.pdf).

Click here to download the full text of the introduction.

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