The Transaction Costs of Risk Management vs. Speculation in an Electronic Trading Environment : Evidence from the Montreal Exchange

This article provides new measures of the actual agency costs of futures markets using real time trading data to capture differences in costs between principals as well as transactions that are conducted for risk management as opposed to speculative purposes. For this task, we utilize a unique database obtained from the Montreal Exchange, which since 2001 has operated as a fully automated derivatives market and currently serves as the exclusive market for financial derivative products in Canada

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Year of publication:	2011
Authors:	Switzer, Lorne N.
Other Persons:	Fan, Haibo (contributor)
Publisher:	[2011]: [S.l.] : SSRN
Subject:	Transaktionskosten \| Transaction costs \| Spekulation \| Speculation \| Risikomanagement \| Risk management \| Elektronisches Handelssystem \| Electronic trading

Extent:	1 Online-Ressource (20 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Trading, Vol. 2, pp. 82-100, Fall 2007 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2007 erstellt
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013119898