Since the enactment of the new Banking Act in February 2009, with a new ‘Special Resolution Regime’ at its heart, the debate about how to reform the United Kingdom's financial regulatory and supervisory framework has intensified. A major catalyst for this was the publication of Lord Turner's...

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This analysis reveals the restricted scope of approaches which utilise arbitrage based arguments toprice contingent claims whose payoffs are determined by the outcome of non-zero-sum valuationgames between financial market participants. Many examples of such model formulations can befound, for...

This paper examines the price impact of trading intensity on an emerging futures market. Utilizing anovel volume-augmented duration model of price discovery, the intensity effect is decomposed intoliquidity and information components for the MexDer 28-day interest rate futures contract. We...