Recent empirical work has studied point processes of transactions in financial markets and observed clear time dependent patterns in these arrival times. However, these studies do not examine the timing of quoted price changes. This paper formulates a bivariate point process to jointly analyze transaction and quote arrivals. In microstructure models, transactions may reveal private information ...

The main result of this paper is the determination of all pairwise nonisomorphic trade sets of volume at most 10 which can appear in Steiner triple systems. We also enumerate partial Steiner triple systems having at most 10 blocks as well as configurations with no points of degree 1 and tradeable configurations having at most 12 blocks.

In this paper, we determine the spectrum (the set of all possible volumes) of simple (v, 3, 2) trades for any fixed foundation size v 6≡ 5 (mod 6). Index Words: trades, spectrum, Steiner triple systems, large sets of Steiner triple systems MR Subject Classification: 05B07, 05B05