An Intraday Pricing Model of Foreign Exchange Markets /

Market makers learn about asset values as they set intraday prices and absorb portfolio flows. Absorbing these flows causes inventory imbalances. Previous work has argued that market makers change prices to manage incoming flows and offset inventory imbalances. This study argues that they have multi...

Ausführliche Beschreibung

Bibliographische Detailangaben
1. Verfasser: Romeu, Rafael
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2003.
Schriftenreihe:IMF Working Papers; Working Paper ; No. 2003/115
Online Zugang:Full text available on IMF

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