Symposium on Market Fragmentation in Europe
European equity markets have seen several waves of fragmentation and regulators are now again considering changes to the market structure. Whereas some market participants would like to centralize trading to transparent limit order book markets, other point to the need of institutional investors to trade in alternative venues. This half-day symposium features presentations of the latest academic research on market fragmentation, including effects of MiFID II, with comments by leading industry participants. The aim is to provide a forum for constructive discussion between academics, regulators and industry participants on the road ahead for European financial market structure. The symposium is hosted in collaboration between Stockholm Business School and the Swedish Securities Markets Association.
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Dark pools and systematic internalisers under MiFID II
Banning Dark Pools: Venue Selection and Investor Trading Costs
Peter O’Neill, Financial Conduct Authority
Discussant: Christer Wennerberg, SEB
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High-Frequency Traders and Single-Dealer Platforms
Fatemeh Aramian, Stockholm Business School / University of Melbourne
Discussant: Satchit Sagade, Nasdaq
Presentation Fatamed Aramian
Presentation Satchit Sagade
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Effect of market fragmentation and continuous trading Drivers and Effects of Stock Market Fragmentation
Benjamin Clapham, Goethe University Frankfurt
Discussant: Sean Foley, Macquarie University
Presentation Benjamin Clapham
Presentation Sean Foley
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On the effects of continuous trading
Roberto Pascual, Universidad de las Islas Baleares
Discussant: Erik Einert, Swedish Securities Dealers Association