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Measuring market integrity: a proposed Canadian approach

Measuring market integrity: a proposed Canadian approach Purpose – The purpose of this paper is to provide a conceptual viewpoint of the appropriate theoretical framework for measuring the integrity of capital markets from a regulatory/law‐enforcement perspective. Design/methodology/approach – This paper discusses the metrics involved with the abstract concept of measuring the integrity of capital markets. References include measurement tools and measurement principles issued by academic institutions and relevant international organizations. Primary research was conducted by way of the Royal Canadian Mounted Police's Market Integrity Index research project. Findings – The paper finds that there is an interplay of forces that determine the relative integrity of a given market over time. Originality/value – This paper suggests that critiques of the efficacy of systemic market structure can be evaluated on a quantitative basis. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Crime Emerald Publishing

Measuring market integrity: a proposed Canadian approach

Journal of Financial Crime , Volume 15 (3): 8 – Jul 18, 2008

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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
1359-0790
DOI
10.1108/13590790810882856
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to provide a conceptual viewpoint of the appropriate theoretical framework for measuring the integrity of capital markets from a regulatory/law‐enforcement perspective. Design/methodology/approach – This paper discusses the metrics involved with the abstract concept of measuring the integrity of capital markets. References include measurement tools and measurement principles issued by academic institutions and relevant international organizations. Primary research was conducted by way of the Royal Canadian Mounted Police's Market Integrity Index research project. Findings – The paper finds that there is an interplay of forces that determine the relative integrity of a given market over time. Originality/value – This paper suggests that critiques of the efficacy of systemic market structure can be evaluated on a quantitative basis.

Journal

Journal of Financial CrimeEmerald Publishing

Published: Jul 18, 2008

Keywords: Market system; Law enforcement; Canada

References