Financial crime ‘hot spots’ – empirical evidence from the foreign exchange market

IF 2.2 3区经济学 Q2 BUSINESS, FINANCE

European Journal of Finance Pub Date : 2018-05-24 DOI:10.1080/1351847X.2017.1303528

Florian El Mouaaouy

引用次数: 3

Abstract

ABSTRACT This paper uses a natural experiment to investigate the effects of collusive benchmark manipulation on foreign exchange (FX) market characteristics. Constructing digit-based measures, the empirical analysis detects anomalies throughout different digit positions of currency pairs in prosecuted FX data. The findings contribute to the understanding of suspicious patterns during the World Markets Company and Reuters benchmark window around the London close and suggest a simple, practical, and useful approach to screening other financial benchmarks, markets, and time periods.

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金融犯罪“热点”——来自外汇市场的经验证据

摘要本文采用自然实验的方法，研究了串通操纵基准对外汇市场特征的影响。构建基于数字的措施，实证分析在检控外汇数据中检测到货币对不同数字位置的异常。这些发现有助于理解世界市场公司和路透社在伦敦收盘前后的基准窗口期间的可疑模式，并提出了一种简单、实用和有用的方法来筛选其他金融基准、市场和时间段。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

European Journal of Finance BUSINESS, FINANCE-

CiteScore

5.40

自引率

8.00%

发文量

期刊介绍： The European Journal of Finance publishes a full range of research into theoretical and empirical topics in finance. The emphasis is on issues that reflect European interests and concerns. The journal aims to publish work that is motivated by significant issues in the theory or practice of finance. The journal promotes communication between finance academics and practitioners by providing a vehicle for the publication of research into European issues, stimulating research in finance within Europe, encouraging the international exchange of ideas, theories and the practical application of methodologies and playing a positive role in the development of the infrastructure for finance research.