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The 1997 NASDAQ Trading Rules

In: Encyclopedia of Finance

Author

Listed:
  • Yan He

    (Indiana University Southeast)

Abstract

Several important trading rules were introduced in NASDAQ in 1997. The trading reforms have significantly reduced bid–ask spreads on NASDAQ. This decrease is due to a decrease in market-making costs and/or an increase in market competition for order flows. In addition, in the post-reform period, the spread difference between NASDAQ and the NYSE becomes insignificant with the effect of informed trading costs controlled.

Suggested Citation

  • Yan He, 2022. "The 1997 NASDAQ Trading Rules," Springer Books, in: Cheng-Few Lee & Alice C. Lee (ed.), Encyclopedia of Finance, edition 0, chapter 18, pages 723-727, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-91231-4_18
    DOI: 10.1007/978-3-030-91231-4_18
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