The new SEC chief has been talking a lot about segmentation recently, and it also took up a few pages of the recent MEME stock trading report. But what is segmentation? And what does it do to markets ...
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Academics have studied segmentation for years, but we start our summary of how it affects equity markets with a 1996 paper by Maureen O’Hara (see Table 1). In contrast to fragmentation, which just ...
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