Public disclosure and private decisions: The case of equity market execution quality

• Main Authors: BOEHMER, Ekkehart, JENNINGS, Robert, WEI, Li
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2007
• Subjects: Disclosure regulation; execution quality; order routing decisions; SEC Rule 11Ac1-5; Business; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/4690; https://ink.library.smu.edu.sg/context/lkcsb_research/article/5689/viewcontent/Boehmer_Public_Disclosure_2006_av.pdf
• Institution: Singapore Management University

In 2001, the Securities and Exchange Commission (SEC) required market centers to publish monthly execution-quality reports in an effort to spur competition for order flow between markets. Using samples of stocks trading on several markets, we investigate whether past execution quality affects order-...