Recent evolutions in Europe raise questions on the viability of the present economic and social model that defines the European construction project. In this paper, the author will try to explain the viability of institutional European model that sticks between free market mechanisms and...

European closing auction volumes increased heavily over the past years, in particular sincethe introduction of MiFID II in 2018. We show that this increase in closing auction volumesince 2018 is driven by an increase in limit order volume and that it contributes to moreefficient price formation....