Внедрение системы маржирования на рынках производных финансовых инструментов
положительно сказывается на ликвидности рынка и эффективности рыночного …

We study a noisy general rational expectations equilibrium in an economy with big trading
data, populated by asymmetrically informed logarithmic investors. We show that the …

This paper demonstrates that retail trading in the options market impacts the liquidity of
underlying stocks. Options contracts have zero net supply, and financial intermediaries …

We show theoretically that the interplay between investor behavior (LETF fund flows) and
index return autocorrelation (“see-saw effect”) plays a central role in either moderating or …

Retail option trading has become an important feature of modern financial markets. Since
option contracts are in zero net supply, net imbalances are delta hedged by financial …

We show theoretically that the interplay between investor behavior (LETF fund flows) and
index return autocorrelation (“see-saw effect”) plays a central role in either moderating or …