In this paper we provide evidence for Evans and Lyons' (2005b) model of an information aggregation process in FX markets using a German bank's end-user order flow from 2002 to 2003. Though customer order flow is unambiguously the vehicle incorporating non-public information into exchange rates...

Though unambiguously outperforming all other financial markets in terms of liquidity, foreign exchange trading is still performed in opaque and decentralized markets. In particular, the two-tier market structure consisting of a customer segment and an interdealer segment to which only market...

This paper empirically investigates the Evans and Lyons' [2002. Understanding order flow. International Journal of Finance and Economics 11: 3-23] model of the foreign exchange market from a dealer's perspective. We provide evidence of the suggested information aggregation process using a rich...

In ihrem Buch zeigen die Autoren Unternehmen, wie sie mit neuen und innovativen Produkten und Dienstleistungen digitaler werden sowie gleichzeitig ihr Kerngeschäft vorantreiben können. Das Buch erläutert, wie man das schwierige Gleichgewicht zwischen dem Aufbau eines neuen (digitalen)...