Information technologies (IT) and information systems (IS) are the backbone of any developed business, organizations without them cannot compete. In recent decades, many best practices standards, guides have been made available to project managers aimed improve management. Unfortunately, IS projects continue show a poor track record, problems related management performance persists. Risk has vi...

This work studies the information content of trades in world’s largest over-the-counter (OTC) market, foreign exchange (FX) market. It analyzes a novel, comprehensive order flow data set, distinguishing among different groups market participants and covering large cross-section currency pairs. We find compelling evidence heterogeneous superior across agents, time, pairs, consistent with asymmet...