World Cup linked to declining trade volumes, says ECB paper


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

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: