by arbitrage mechanism that brings both markets to equilibrium. When arbitrage opportunities arise, arbitrageurs buy … return to theoretical levels. Such mechanical arbitrage trading tends to create large order flows that could be difficult for … argue that the increase in trading volume and return volatility may be attributed to index arbitrage transactions as …

Established in 1988, the Shingo Prize for Operational Excellence recognises organisations in the USA, Mexico and Canada …

effect). This study has practical implications for regulators, corporations and investors, both in the USA and abroad. …

inflation rates for the period from 1961 to 1981. Forward rates are employed here to represent the present expectation of future …

portfolio restrictions, there is a need to differentiate individual arbitrage opportunities from those at the aggregate level …), this difference in the notion of arbitrage at the individual level and the aggregate level is characterized. Extending the … 2-date result of Hens et al., we show that generically there will be some arbitrage opportunities that remain …

with restricted participation. We then provide a characterization of reduced financial structures in terms of arbitrage …