Although there has been extensive research on the economic functions of financial exchanges and the properties of prices determined on exchanges, there has been little research on the organizational structure and governance of these exchanges. This article demontrates that the heterogeneity of the suppliers of financial services that are members of financial exchanges explains salient features of exchange organization.
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Paper provided by Business, Law and Economics Center, John M. Olin School of Business, Washington University in its series Washington University with number
97-06.
Length: 52 pages Date of creation: 1997 Date of revision: Handle: RePEc:fth:wablec:97-06
Contact details of provider: Postal: Business, Law and Economics Center, John M. Olin School of Business, Washington University. Campus Box 1133, One Brookings Drive, St. Louis MO 63130-4899. Web page: http://www.olin.wustl.edu/ble/ More information through EDIRC
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Find related papers by JEL classification: G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data) G12 - Financial Economics - - General Financial Markets - - - Asset Pricing
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