Search results for "trading"

Statistical identification with hidden Markov models of large order splitting strategies in an equity market

2010

Large trades in a financial market are usually split into smaller parts and traded incrementally over extended periods of time. We address these large trades as hidden orders. In order to identify and characterize hidden orders we fit hidden Markov models to the time series of the sign of the tick by tick inventory variation of market members of the Spanish Stock Exchange. Our methodology probabilistically detects trading sequences, which are characterized by a net majority of buy or sell transactions. We interpret these patches of sequential buying or selling transactions as proxies of the traded hidden orders. We find that the time, volume and number of transactions size distributions of …

Anatomy of Trading Rules

2017

This key chapter presents a methodology for examining how the trading signal in a moving average rule is computed. Then using this methodology the chapter examines the computation of trading signals in all moving average rules and investigates the commonalities and differences between the rules. The main conclusion that can be drawn from this study is that the computation of the trading indicator in every rule, based on either one or multiple moving averages, can equivalently be interpreted as the computation of a single weighted moving average of price changes. The analysis presented in this chapter uncovers the anatomy of moving average trading rules, provides very useful insights about p…

Estimating carbon credits variations supplied from agricultural and forest soils of Italy between 1979 and 2008.

2011

Soils contain approximately three times the world amount of organic carbon in vegetation and approximately the double of that present in the atmosphere. However, soil organic carbon (SOC) has been found lowering in many areas, while atmospheric CO2 was on increase. It is well known that there is a marked inter-dependence between SOC and climate, nevertheless, recent researches have demonstrated that changes of land use and management can cause gains or losses of SOC greater than climatic changes. Italy, which has joined the Kyoto Protocol, has decided to consider only forest management within the additional activities contemplated for the count of carbon credits, and to launch a monitoring …

COLLECTION, PROCESSING, PRESERVATION AND TRADING OF WILD EDIBLE MUSHROOMS

2013

A new fuzzy logic controller for trading on the stock market

2007

A common problem that financia l operators often meet in their own work is to make, at the right moment, the operational choices on the Stock Market. Once the Market to act on has been chosen, the financial operator has to decide when and how to operate on it, in order to achieve a profit . The problem that we are going to deal with is the planning of an automatic decisional system for the management of long positions on bull market. First, a trading system (TS) will be im plemented pointing its features out. Then a fuzzy logic implementation of the TS will be introduced (FTS). The fuzzy system will be optimized by the genetic algorithms. Finally, the two different implementations of the tr…

LA DISCIPLINA DEL SETTORE ENERGETICO IN UN SISTEMA MULTILIVELLO

2014

Da una prospettiva privilegiata, quale quella offerta dal diritto dell’energia, si affronta l’allocazione nei diversi livelli di governo della funzione legislativa e delle funzioni amministrative e, quindi, come in concreto viene utilizzata da ciascun ente la propria quota-parte di competenze. In particolare, si esamina lo spatium operandi riconosciuto all’autonomia legislativa ed amministrativa delle Regioni alla luce della riforma del Titolo V della Costituzione e delle riforme della legislazione nazionale ed europea che si sono succedute, con particolare riferimento allo strumento di pianificazione energetica della Regione siciliana. Inoltre, si considerano le refluenze che l’assetto di …

THE CAROUSEL VALUE-ADDED TAX FRAUD IN THE EUROPEAN EMISSION TRADING SYSTEM

2012

n this article, we analyse the effects of the carousel value-added tax fraud in the European carbon market and the legislative measures that the EU Member States could adopt to deal with this phenomena. We use a computable general equilibrium model, called GTAP-E and the version 6 of the GTAP database to evaluate the economy-wide and terms of trade effects. The policy test has been designed for five European countries: Belgium, France, Germany, Italy, Netherlands and the United Kingdom. According to our findings, the legislative measures aimed to remove the VAT fraud in the European Emission Trading System will have positive effects in terms of GDP and welfare in the selected EU Member Stat…

A wholesale electricity market framework with bilateral trading

2011

An agent-based simulation model for a hybrid power market structure is presented. A bilateral transaction mechanism is combined with a uniform-pricing auction settlement in order to isolate the impact of medium-term bilateral contracts on market power and spot prices in a competitive wholesale market setting. First we describe the negotiation method for bilateral trading of energy and then introduce a new approach for bidding in the DA market based on the load duration curve. We find that, despite the conventional concerns, the foreclosure ef- fect produced by the bilateral agreement between a generation and a retail business will not necessarily lead to higher prices, and will be manifeste…

Identification of clusters of investors from their real trading activity in a financial market

2012

We use statistically validated networks, a recently introduced method to validate links in a bipartite system, to identify clusters of investors trading in a financial market. Specifically, we investigate a special database allowing to track the trading activity of individual investors of the stock Nokia. We find that many statistically detected clusters of investors show a very high degree of synchronization in the time when they decide to trade and in the trading action taken. We investigate the composition of these clusters and we find that several of them show an over-expression of specific categories of investors.

The crucial interactions between climate and soil

2022

Since the birth of soil science, climate has been recognized as a soil-forming factor, along with parent rock, time, topography, and organisms (from which humans were later kept distinct), often prevalent on the other factors on the very long term. But the climate is in turns affected by soils and their management. This paper describes the interrelationships between climate – and its current change – and soil, focusing on each single factor of its formation. Parent material governs, primarily through the particle size distribution, the capacity of soil to retain water and organic matter, which are two main soil-related drivers of the climate. Time is the only unmanageable soil-forming facto…