This paper assesses liquidity conditions in foreign exchange (FX) spot and derivatives markets using intra-day data against the background of FX dealers’ response to recent regulatory changes. Given that FX swap markets are by some measures even deeper that the spot market, an assessment of FX liquidity requires taking such instruments into account. We find that spot and swap market liquidity i...

Using intra-day data, this paper investigates the contribution to the price discovery of Euro and Japanese Yen exchange rates in three foreign exchange markets based on electronic trading systems: the CME GLOBEX regular futures, E-mini futures, and the EBS interdealer spot market. Contrary to evidence in equity markets and more recent evidence in foreign exchange markets, the spot market is fou...

Using unique panel data on individual transactions between buyers and sellers in the spot market for live hogs, we found a large degree of intra-day price dispersion. Motivated by this empirical puzzle, we offer an explanation which is rooted in the bargaining with search theory. We formulate three hypotheses involving the role of farmers’ search cost, bargaining parties’ patience, and asymmetr...

In this work, the optimal participation of heterogeneous, Renewable Energy Source (RES)-based Virtual Power Plant (VPP) in Day-Ahead Market (DAM) and Intra-Day (IDM) is studied. For purpose, a detailed model RES-based VPP market operation needed. The includes both dispatchable non-dispatchable RESs flexible demand assets. This paper presents an improved, linear solar thermal plant to consider i...

Background In beef cows, milk production is the most important factor affecting calf growth. Thus, factors that limit production has negative effects on calf weaning weight. Mastitis is a disease, which reduces milk production and is often associated with bacterial intra-mammary infection (IMI). Studies from UK and USA indicate that subclinical mastitis and/or IMI significantly affects calf wea...

A rapidly changing electricity sector requires adjusted and new ancillary services, which enable the secure reliable operation of system. However, assessments policy advice regarding services market design lack methods to evaluate complex interaction markets services. Therefore, this paper contributes an open-source agent-based model test options for markets. The Ancillary Services Acquisition ...

In this paper, impacts of day-ahead market pricing on behavior of producers and consumers in option and day-ahead markets and on option pricing are studied. To this end, two comprehensive equilibrium models for joint put option and day-ahead markets under pay-as-bid and uniform pricing in day-ahead market are presented, respectively. Interaction between put option and day-ahead markets, uncerta...