Understanding oil is essential for understanding modern history. The 20th century has rightly been called the century of oil, and the importance of this most strategic of commodities shows now sign of abating in the 21st century. From its creation in 1907 Royal Dutch Shell has played a key role...

The way in which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. Market Liquidity offers a more accurate and authoritative take on liquidity and price discovery. The authors start from the...