In the past quarter of a century, the pace of structural change in the equity markets has accelerated dramatically and, as it has, regulation has come to play an increasingly central role in the development of market structure. The purpose of Regulation of U.S. Equity Markets is to consider regulation's contribution to the efficiency of the U.S. equity markets. Sharply different opinions are expressed on the matter, as the discussion ranges from Congressional oversight, to SEC involvement in market structure issues, to the self-regulatory responsibilities of the market centers, most notably, the New York Stock Exchange and the Nasdaq Stock Market.

Autorentext
Robert A. Schwartz is Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY. Before joining the Baruch faculty in 1997, he was Professor of Finance and Economics and Yamaichi Faculty Fellow at New York University's Leonard N. Stern School of Business, where he had been a member of the faculty since 1965. Professor Schwartz received his PhD in economics from Columbia University. He has published over fifty journal articles and fifteen books. He has served as a consultant to various market centers including the New York Stock Exchange, the American Stock Exchange, NASDAQ, and Deutsche Börse, and has been an associate editor for several finance journals. In 1995, Professor Schwartz was named the first chairman of NASDAQ's Economic Advisory Board, where he served until the spring of 1999.

Inhalt
1: View from the Nyse.- 2: The Broad Perspective.- 3: View from the Amex.- 4: Impact on the Trading Desks.- 5: View from NASDAQ.- 6: View from the SEC- Promoting Fair and Efficient Markets as A Regulatory end.- 7: Development of Alternative Markets.- 8: Implications for Innovation, Competition and Efficiency.- 9: The Regulators' Perspective.- Participant Biographies.