-index spot-futures pricing. Using intraday data for financial instruments related to the CAC 40 index, we do not find that the … spot-futures price efficiency improvement observed after ETF introduction is explained either by the direct effect of ETF … shares being used in arbitrage trades or by the indirect effect of ETF trading improving the liquidity of index stocks in the …

To improve risk management in the European Union Emissions Trading Scheme (EU ETS), the European Climate Exchange (ECX … we identify a potential destabilizing effect of the introduction of options on the underlying market (EU ETS futures …)? Indeed, the literature on commodities futures suggest that the introduction of derivatives may either decrease (due to more …

strategies, with maturities up to seven years, are tested on the American crude oil futures market. The study considers three …. We found that our method gives the best of two seemingly incompatible worlds: the higher liquidity of short-term futures …

most important commodity futures market: the American crude oil market. We first show that the information shared by … futures contracts with different delivery dates increases during the period under scrutiny (i.e. 2000-2011). This is … futures market. A dynamic analysis however reveals that the relative importance of information flows emerging in the far end …

strategies, with maturities up to seven years, are tested on the American crude oil futures market. The study considers three …-term futures contracts for the hedge portfolios, together with markedly improved performances. Moreover, even if it is more complex …

exchange and an alternative trading platform on the decisions concerning trading fees and listing requirements. Listing … requirements, set by the exchange, provide public information on listed firms and contribute to a better liquidity on all trading … situation in which it is a monopolist, because the trading platform can free-ride on this regulatory activity and compete more …

, agricultural commodities) raises some questions about price manipulations: can the ETF's trading destabilize the underlying markets …