this method to a high-frequency data set of thirty-year U.S. Treasury futures to investigate the role of the market maker …

We study the provision of liquidity in futures markets as price volatility changes. For both active and inactive …

market liquidity. As a proxy for informed traders, we use dual traders in futures markets - i.e., floor traders who trade … mimic both the size and direction of their informed customers' orders. Using data from four selected futures contracts we …

discount brokers and capital brokers (or, dual traders in futures markets). …

This paper finds that marketmaking practices of dual traders are pit-specific. In the S&P 500 futures pit, the authors … their own trades. Thus, the estimated net benefit of dual trading to customers in the S&P 500 futures is at least seven … cents per contract, or a cash equivalent of $35 per contract. ; In the Japanese yen futures pit, dual traders also obtain …

highly significant effects on the level and volatility of energy futures prices and their trading volumes. I find that, on …

Dual trading is the practice whereby futures floor traders execute trades both for their own and customers' accounts on … skilled dealers. In our theoretical model, hedgers and informed customers trade through futures floor traders of different …-average skills may have quit brokerage and switched to trading for their own accounts following restrictions, as conjectured by …