ABSTRACT This paper develops and simulates a model of a Bayesian market maker who transacts with noise and position traders in derivative markets. The impact of noise trading is examined relative to price determination in FX futures, noise transmission from futures to options, and...

This paper develops and simulates a model of a Bayesian market maker who transacts with noise and position traders in derivative markets. The impact of noise trading is examined relative to price determination in FX futures, noise transmission from futures to options, and risk-management...

Purpose – The purpose of this paper is to examine the efficacy of recent policy initiatives taken by the US Securities and Exchange Commission banning naked “short‐selling” of specific financial stocks. The paper also considers the merits of reinstating “uptick rule” 10a‐1, which...

As more print media move to online, news and media websites have evolved with increasing complexity in content, design, and monetization strategies. In this article, the authors examined and reported the web design patterns of 150 leading news and media websites in six different categories: TV...