Conrad, Jennifer (2003). "Institutional Trading and Alternative Trading Systems". Journal of Financial Economics. 70 (1): 99–134. doi:10.1016/s0304-405x(03)00143-0.
Fink, Jason (2006). "Competition on the NASDAQ and the Growth of Electronic Communication Networks". Journal of Banking & Finance. 30 (9): 2537–2559. doi:10.1016/j.jbankfin.2005.10.009.[page needed]