02874nam 2200505 450 991058015170332120221230093758.03-030-91912-9(MiAaPQ)EBC7026813(Au-PeEL)EBL7026813(CKB)24100625300041(EXLCZ)992410062530004120221230d2022 uy 0engurcnu||||||||txtrdacontentcrdamediacrrdacarrier40 years of experience with the National Market System (NMS) who are the winners and what have we learned? /Robert A. Schwartz, John Aidan Byrne and Eileen Stempel, editorsCham, Switzerland :Springer,[2022]©20221 online resource (171 pages)Zicklin School of Business financial markets seriesPrint version: Schwartz, Robert A. 40 Years of Experience with the National Market System (NMS) Cham : Springer International Publishing AG,c2022 9783030919115 Includes bibliographical references.Intro -- Preface: 40 Years of Experience with NMS: Who Are the Winners and What Have We Learned? -- List of Participants -- Conference Sponsors -- Contents -- Chapter 1: Thoughts and Perspectives on 40th Anniversary of the National Market System (NMS) -- Chapter 2: Technology's Challenge to Regulators -- Chapter 3: The Global View -- Chapter 4: Has NMS-Induced Competition Delivered? -- Chapter 5: Fair and Level Playing Fields: A Good Regulatory Goal? -- Chapter 6: What Have We Learned? -- Chapter 7: The Buy-Side Responds -- Chapter 8: A Liquidity Program to Stabilize Equity Markets -- The Supplemental Liquidity (SL) Proposal -- Price Discovery is a Public Good -- Analytic Context -- Empirical Analysis -- Test Design -- Test Results -- The SL Program Vis-À-Vis Traditional Market Maker Operations -- Conclusion -- Appendix: Further Considerations -- A. Additional Rules for Implementing an SL Program -- B. Compliance with Local Regulations -- C. Call Auction Prices and Equilibrium Values -- D. An SL Program and Gaming Possibilities -- References.Zicklin School of Business financial markets series.Forty years of experience with the National Market System (NMS)SecuritiesSecuritiesCongressesSecuritiesUnited StatesCongressesSecurities.SecuritiesSecurities346.092Schwartz Robert A.John Aidan ByrneStempel EileenMiAaPQMiAaPQMiAaPQBOOK991058015170332140 years of experience with the National Market System (NMS)2997505UNINA