Service enterprises have traditionally used organizational models from the manufacturing and industrial sectors, incorporating ideas such as hierarchy, task repetition, and standardization of procedures. However, these disciplined production systems tend to use humans more than machines in the...

The goal of this paper is to study a very important risk metric in commodity trading: volume liquidity risk. It begins by examining the statistical properties of volume and settlement price change of futures contracts of different maturities. The results are used in the construction of a model...