Frino, Alex; Jarnecic, Elvis; Feletto, Roger - In: Journal of Futures Markets 30 (2010) 1, pp. 1-24
This study examines the profitability of local traders on floor‐traded futures markets. Using unique data from the period of floor trading on the Sydney Futures Exchange, local income is decomposed into liquidity and position‐taking profit components. Locals on the trading floor are found to...