The author introduces Frank Hatheway and Peter Martyn of NASDAQ and highlights the complexities of trading stocks electronically.

In the last decade, the majority of the world’s stock markets have converted to electronic platforms. In the United States, the New York Stock Exchange remains a human-mediated auction market operated by specialists. The NASDAQ market, however, is electronic, made up of multiple market makers who trade over a network...

In the new world, two large-volume exchanges will go toe to toe competing for business, and the specialists will be gradually replaced by transparent computers.

At an AEI conference last June, Professor Kenneth M. Lehn and his colleagues presented a ground-breaking paper that compared the effect of market stress—when the markets receive new positive or negative information—on the bid-ask spreads in the NYSE, NASDAQ, and the electronic communications networks (ECNs). The June paper indicated that...

Downward trends in the prices of stocks listed on the Nasdaq exchange suggest that Microsoft’s practices threaten its competitors less than the Justice Department’s litigation does.

With all of the recent attention focused on corporate and accounting fraud, few investors are aware that the SEC now has before it a decision that could radically change the structure of today's securities markets.

Dual listing of six companies on NASDAQwill bring much-needed competition.

Online registration for this event is closed. Walk-in registration will be accepted.

Few investors know that when they ask their broker for a current price of a New York Stock Exchange (NYSE) or NASDAQ stock, the broker is paying for this data and that the revenue from the sale...