The ability to trade large amounts of assets at low costs could be hindered when the size of the orders is concentrated at specific trade sizes. This paper documents evidence of size clustering behavior in the European Carbon Futures Market and analyzes the circumstances under which it happens....

Since the entry into force of the Kyoto Protocol, carbon trading has been in continuous expansion. In this paper, we review the origins of carbon trading in order to understand how carbon trading works in Europe and, specifically, the functioning of the European Union Emission Trading Scheme (EU...

Derivative contracts have a finite life limited by their maturity. The construction of continuous series, however, is crucial for academic and trading purposes. In this study, we analyze the relevance of the choice of the rollover date, defined as the point in time when we switch from the front...