Synopsis
The existence and nature of exchanges used not to be controversial; they were easily identified and characterized. New technology, however, has led to the development of new exchanges and trading systems, posing problems for those concerned with the regulation of trading markets. Ruben Lee examines the question of what an exchange is, using arguments from both financial economics and law, and sets out a view of how exchanges might be regulated.
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About the Author
Ruben Lee was formerly a Vice President of Salomon Brothers in New York, and was Lecturer in Finance at City University Business School. He now runs a consultancy business.
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What Is An Exchange? The Automation, Management and Regulation of Financial Markets
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What Is an Exchange? : The Automation, Management, and Regulation of Financial Markets
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What Is an Exchange?: The Automation, Management, and Regulation of Financial Markets
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