• 1 Introduction
  • 2 Market structure, data, and descriptive statistics
  • 2.1 Market structure and dealing system
  • 2.2 Data
  • 2.3 Descriptive statistics
  • 2.4 Characteristics of regions
  • 3 Price impact of regional groups
  • 3.1 Econometric approach
  • 3.2 Reduced form VARs
  • 3.3 Structural VAR analysis, common news shocks and feedback trading
  • 4 Conclusions
  • References