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dc.contributor.authorGresse, Carole
dc.contributor.authorJacquillat, Bertrand
dc.date.accessioned2011-07-11T08:34:06Z
dc.date.available2011-07-11T08:34:06Z
dc.date.issued1998
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/6670
dc.language.isoenen
dc.subjectAsset Pricingen
dc.subjectTrading volumeen
dc.subjectBond Interest Ratesen
dc.subject.ddc332en
dc.subject.classificationjelC93en
dc.subject.classificationjelD40en
dc.subject.classificationjelG15en
dc.subject.classificationjelG12en
dc.titleThe Diversion of Order Flow on French Stocks from CAC to SEAQ International : A field Studyen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThe competition between SEAQ International and Continental European equity markets to attract transactions in the most actively traded European stocks has intensified since the late 1980s. Because their transactions are organised in a different manner, and because reporting standards are not the same, comparisons of official transaction volumes from SEAQ International and the French CAC market system are misleading. The objective of this paper is to scrutinise the order flow for French stocks and the reporting procedures on both market systems, so as to ascertain the effective transactions on each market and estimate actual market shares. Based on both the observation of official statistics and a field study of order flows conducted among five large and active brokerage houses with a book on both markets, SEAQI's market share in French stocks as reported in previous studies using only official volume statistics seems largely overstated.en
dc.relation.isversionofjnlnameEuropean Financial Management
dc.relation.isversionofjnlvol4en
dc.relation.isversionofjnlissue2en
dc.relation.isversionofjnldate1998
dc.relation.isversionofjnlpages121-142en
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherOxford Blackwell Publishersen
dc.subject.ddclabelEconomie financièreen


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