Regulations regarding the prohibition of giving full power attorney from customers to brokers still cannot be fully implemented by stock futures brokerage companies in emerging economies. This then becomes a problem for firms future. The purpose this study is analyze legal protection cryptocurrency investors reviewed based on Indonesia’s Commodity Futures Trading Authority Regulation No. 5 2019...

We propose a novel index of short-term endogeneity (or reflexivity) derived by calibrating the Hawkes self-excited conditional Poisson model on empirical time series of trades. The Hawkes model accounts simultaneously for the co-existence and interplay between the exogenous impact of news and the endogenous mechanism by which past trading activity may influence future trading activity. Technica...

abstract in this paper an attempt is made to determine the most suitable agricultural commodities to be adopted for establishing a futures market in iran. two different approaches are adopted: the first involves identifying factors that contribute significantly to the success or failure of existing agricultural commodities futures contracts in established futures markets. the second involves si...

We use network analysis to quantify the flow of information through financial markets. Using unique ultra high frequency data, we compute network and financial variables for transactions that occured during August 2008 in the nearby E-mini S&P 500 futures contract – the cornerstone of price discovery for the S&P 500 Index. We find that network variables presage the information represented by fi...

The value chain for energy and other commodities entails physical conversions through refineries, power plants, storage facilities, and transportation and other capital-intensive infrastructure. When the operation of such commodity conversion assets occurs alongside liquid markets for the input and output commodities, the operating flexibility of conversion assets can be managed as real options...

This paper describes the implementation and design of a web-scale electronic continuous double auction system. The intention of this system is to facilitate multiple simultaneous participants in the form of autonomous trading agents; an individual agent may only trade in a single market at a time, though a single commodity may be traded in multiple markets by multiple agents simultaneously. The...

Relationships are fundamental to all but the most impersonal forms of interaction in business. Human agents who are unsure of themselves seek honourable trading relationships. The establishment and growth of interpersonal relationships is a result of reciprocal exchange of information. This paper addresses the problem of use of information for developing and utilising relationships between nego...

Using proprietary audit trail transactions compiled by the Commodity Futures Trading Commission, we investigate, at the individual trader level, (1) the timing and (2) the determinants of dual traders’ personal trades. Our analysis reveals a surprising absence of any trade timing by dual traders in relation to the execution of their customers’ orders. Further examination employing correlation s...

The aim of this study is to evaluate the effectiveness of using external indicators, such as commodity prices and currency exchange rates, in predicting movements in the Dow Jones Industrial Average index. The performance of each technique is evaluated using different domain specific metrics. A comprehensive evaluation procedure is described, involving the use of trading simulations to assess t...