haku: @journal_id 789 / yhteensä: 95
viite: 48 / 95
| Tekijä: | Kempf, A. Korn, O. |
| Otsikko: | Trading system and market integration |
| Lehti: | Journal of Financial Intermediation
1998 : JUL, VOL. 7:3, p. 220-239 |
| Asiasana: | FINANCIAL INTERMEDIARIES MARKETS ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | In this paper the authors investigate empirically the relative advantages of floor and screen trading systems. They judge the systems by their ability in providing a high degree of market integration. The main result is that a closer integration of underlying and derivative markets occurs when both instruments are screen traded, but the difference is significant only for short return intervals. In active trading periods the superiority of screen systems is even more pronounced. |
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