TY  - UNPD
A1  - Theissen, Erik
T1  - Internalisierung und Marktqualität : was bringt Xetra Best?
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2002,06
N2  - Deutsche Börse AG plans to introduce a system (Xetra Best) allowing brokers and broker-dealers to internalize the orders of retail customers. Further, Xetra Best supports payment for order flow arrangements. Both internalization and payment for order flow may be detrimental to market quality. This paper discusses advantages and disadvantages of these arrangements. It draws on experiences made in the US. We derive policy implications that aim at a more stringent interpretation of "best execution", and at higher transparency. Klassifikation: G10, G14
T3  - CFS working paper series - 2002, 06 
KW  - Deutschland
KW  - USA
KW  - Wertpapierhandel
KW  - Wertpapiermarkt
KW  - Auftragsabwicklung
KW  - Außerbörslicher Wertpapierhandel
KW  - Aktienmarkt
KW  - Geldkurs
Y1  - 2002
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/4497
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-9963
ER  -