کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5069408 1476989 2015 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
How integrated is the European carbon derivatives market?
ترجمه فارسی عنوان
چگونه بازار مشتقات کربن اروپا یکپارچه شده است؟
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
We assess the integration dynamics on the European carbon futures market at both the intraday and daily levels. We focus on EUA futures contracts that can be traded on three trading platforms: the Intercontinental-European Climate Exchange (ICE-ECX), the NASDAQ OMX and the European Energy Exchange (EEX). We analyze trading activity for three contract maturities and find that the ECX and EEX platforms exhibit a reasonable level of integration. The price discovery process does not occur at the daily level but rather at the hourly frequency. We conclude that this market still needs to be closely monitored by the regulatory authorities.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Finance Research Letters - Volume 15, November 2015, Pages 18-30
نویسندگان
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