The Impact of Financial Technology on the Liquidity of Stock Index Futures
This study conducts an empirical analysis on the influence of financial technology(fintech)on the liq-uidity of the CSI 300 stock index futures market.Utilizing transaction data spanning from 2017 to 2022,the research employs quantile regression to dissect the nuanced effects of fintech advancements.The findings reveal two primary in-sights:firstly,the integration of fintech significantly enhances the market liquidity of stock index futures;secondly,the influence exerted by fintech is subject to temporal dynamics and exhibits variability across different stages of market evolution.These results underscore the complex interplay between technological innovation and market microstructure,offering valuable implications for both practitioners and regulators in the futures industry.
NETL
NSTL
万方数据
