World Cup linked to declining trade volumes, says ECB paper

ecb-frankfurt

A European Central Bank paper published on February 13 finds evidence that the 2010 football World Cup led to a change in price formation processes, as traders followed developments on the football pitch rather than in financial markets.

Michael Ehrmann and David-Jan Jansen, the paper's authors, use minute‐by‐minute trading data for 15 international stock exchanges to analyse fluctuations in investor attention during the 2010 Fifa World Cup in South Africa. The authors note that many football

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