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by cdk
5171 days ago
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I believe multiple exchanges do foster competition and innovation. I believe NASDAQ was one of the first computerized exchanges in an era when human traded in the pits. Multiple exchanges allow customers to choose from better trading fees, execution times, colocation offering, etc. |
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I'm not sure how big of a plus this is. Most people wan to expend effort on picking the right stocks to buy or sell, and while they want low transaction costs the price of too many alternatives is increased complexity.