The competition between Island and Nasdaq at the beginning of the century offers a natural laboratory to study competition between and within trading platforms and its consequences for liquidity supply. Our empirical strategy takes advantage of the difference between the pricing grids used on...

We offer a statistical model of the order flow and estimate it using high frequency data from the Paris Bourse. Our model jointly explains the duration between two consecutive orders and the relative aggressiveness of the orders, depending upon the past ordes and the state of the book. Our...

[fre] Prévision bayésienne et structure par terme des taux d'intérêt. . Cet article s'efforce d'approcher de manière originale les anticipations des agents concernant le taux long futur et sa volatilité, variables clés dans l'équation de détermination du taux long issue de la théorie...