January 5, 2005
Consolidating Fragmented Liquidity Pools
Archipelago Agrees to Buy Pacific Exchange, by Jenny Anderson:
“While the New York Stock Exchange has a virtual monopoly on trading its listed stocks, the trading of over-the-counter stocks is more fragmented. Major market players are trying to consolidate volume in an effort to squeeze profits from the notoriously low margin business. At the same time, many exchanges are diversifying so as not to be dependent on a single financial product.”
Cat: | Time: 7:25 am (utc+8)