SYMPOSIUM ON MARKET MICROSTRUCTURE - FOCUS ON NASDAQ

This special issue of the Journal of Financial Economics includes six articles that analyze the market microstructure of Nasdaq in various w ays. The question of the costs of trading on Nasdaq has become content ious in both the academic and legal/regulatory arenas since the Christ ie and Schultz (1994) article first noted that many actively traded Na sdaq stocks were almost never quoted on odd eighths. The articles in t his symposium bring new and interesting insights to this debate.