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Ministerio de Economia y Competitividad, Grant/Award Numbers: ECO0201232554, ECO2017-85356-P; Fundacion BBVA

Impact on the Sustainable Development Goals (SDGs)

Analysis of institutional authors

Llorente, GuillermoCorresponding Author

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December 16, 2019
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Trading and information in futures markets

Publicated to:JOURNAL OF FUTURES MARKETS. 40 (8): 1231-1263 - 2020-08-01 40(8), DOI: 10.1002/fut.22079

Authors: Llorente, Guillermo; Wang, Jiang

Affiliations

MIT, CAFR, 77 Massachusetts Ave, Cambridge, MA 02139 USA - Author
MIT, NBER, 77 Massachusetts Ave, Cambridge, MA 02139 USA - Author
MIT, Sloan Sch Management, 77 Massachusetts Ave, Cambridge, MA 02139 USA - Author
Univ Autonoma Madrid, Fac C Econom, E-28049 Madrid, Spain - Author

Abstract

This paper studies the trading behavior of different types of traders (customer type indicators [CTI's]) in corn futures. Nonmembers (CTI4) consume most of the intraday liquidity while local traders (CTI1) as market makers are its main provider. Both groups combine most of the intraday trading volume. Interday trading comes mainly from proprietary accounts (CTI2) and other local traders' trades (CTI3), reflecting their longer-term needs for hedging and speculation. Changes in the overnight positions of the general public (CTI4) and clearing members (CTI2) contribute mostly to daily price discovery, while the positions of CTI3 group reflect possible information advantage about future price movements.

Keywords

Strengthen the means of implementation and revitalize the global partnership for sustainable development goals

Quality index

Bibliometric impact. Analysis of the contribution and dissemination channel

The work has been published in the journal JOURNAL OF FUTURES MARKETS due to its progression and the good impact it has achieved in recent years, according to the agency Scopus (SJR), it has become a reference in its field. In the year of publication of the work, 2020, it was in position , thus managing to position itself as a Q1 (Primer Cuartil), in the category Business, Management and Accounting (Miscellaneous).

From a relative perspective, and based on the normalized impact indicator calculated from the Field Citation Ratio (FCR) of the Dimensions source, it yields a value of: 1.94, which indicates that, compared to works in the same discipline and in the same year of publication, it ranks as a work cited above average. (source consulted: Dimensions Jul 2025)

Specifically, and according to different indexing agencies, this work has accumulated citations as of 2025-07-22, the following number of citations:

  • WoS: 4
  • Scopus: 4

Impact and social visibility

From the perspective of influence or social adoption, and based on metrics associated with mentions and interactions provided by agencies specializing in calculating the so-called "Alternative or Social Metrics," we can highlight as of 2025-07-22:

  • The use of this contribution in bookmarks, code forks, additions to favorite lists for recurrent reading, as well as general views, indicates that someone is using the publication as a basis for their current work. This may be a notable indicator of future more formal and academic citations. This claim is supported by the result of the "Capture" indicator, which yields a total of: 19 (PlumX).

It is essential to present evidence supporting full alignment with institutional principles and guidelines on Open Science and the Conservation and Dissemination of Intellectual Heritage. A clear example of this is:

  • The work has been submitted to a journal whose editorial policy allows open Open Access publication.
Continuing with the social impact of the work, it is important to emphasize that, due to its content, it can be assigned to the area of interest of ODS 17 - Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development, with a probability of 59% according to the mBERT algorithm developed by Aurora University.

Leadership analysis of institutional authors

This work has been carried out with international collaboration, specifically with researchers from: United States of America.

There is a significant leadership presence as some of the institution’s authors appear as the first or last signer, detailed as follows: First Author (LLORENTE ALVAREZ, JESUS GUILLERMO) .

the author responsible for correspondence tasks has been LLORENTE ALVAREZ, JESUS GUILLERMO.