Order Flow Distribution, Bid–Ask Spreads, and Liquidity Costs: Merrill Lynch's Decision to Cease Routinely Routing Orders to Regional Stock Exchanges

Author: Battalio R.   Greene J.   Jennings R.  

Publisher: Academic Press

ISSN: 1042-9573

Source: Journal of Financial Intermediation, Vol.7, Iss.4, 1998-10, pp. : 338-358

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Abstract