RT Journal Article SR Electronic T1 Practical Applications of Price Discovery: The Economic Function of a Stock Exchange JF Practical Applications FD Institutional Investor Journals SP 1 OP 5 DO 10.3905/pa.2014.1.4.052 VO 1 IS 4 A1 Nazli Sila Alan A1 Robert A. Schwartz A1 Cathy Scott YR 2014 UL https://pm-research.com/content/1/4/1.16.abstract AB Price Discovery: The Economic Function of a Stock Exchange Nazli Sila Alan Robert A. Schwartz Everybody knows that the function of a stock exchange is to bring buyers and sellers together. But there is another function that is underappreciated and yet is vitally important. It is price discovery, and regulators and exchanges need to pay more attention to it, according to the authors of this research.In this Practical Applications report and accompanying video interview, co-authors Nazli Sila Alan and Robert Schwartz detail their research on NYSE and NASDAQ intraday volatility.Schwartz is the Marvin M. Speiser Professor of Finance and University Distinguished Professor in the Zicklin School of Business, Baruch College, CUNY . He is also a member of the Advisory Board for The Journal of Trading . Alan is a PhD candidate at the Zicklin School of Business, Baruch College, CUNY .