Market Liquidity in the FCOJ Futures Market
- 1 February 1974
- journal article
- Published by Wiley in American Journal of Agricultural Economics
- Vol. 56 (1) , 150-154
- https://doi.org/10.2307/1239357
Abstract
Speculation is essential for maintaining liquidity within futures markets. Deviations in speculative trading about a liquidity level may, however, distort market price performance. The liquidity level for FCOJ futures has been derived. Speculation in excess of liquidity occurred infrequently and such excesses showed only limited effects on price performance.Keywords
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