The Governance Gap in Fragmented Markets

My article argues that our reliance on exchange governance is deeply misplaced in modern, fragmented markets. Theory holds that exchanges make effective monitors because they can gather an enormous swath of equity market participants within their venue. These large numbers enable exchanges to match traders, pool information on their activities, and meaningfully discipline users by threatening exclusion from this key source of capital.

filed under: Uncategorised

0 thoughts on “The Governance Gap in Fragmented Markets”

Comments are closed.