Cointegration analysis is used to investigate the short and long run dynamics of therelationship between the export prices of the EU wheat and of other major exporters inthe world wheat market. The aim of this study is to determine whether long runrelationships existed between EU prices and its...

Two important characteristics of current equity markets are the large number of trading venues with publicly displayed order books and the substantial fraction of trading that takes place in the dark, outside such visible order books. This paper evaluates the impact of dark trading and...

This Paper studies the formation of opening prices for German and French stocks, simultaneously traded in Frankfurt and Paris. We analyse theoretically the case where investors and traders based in the same country as the firm have better information on its value than foreign traders. Our model...