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Common volatility in the foreign exchange market Table 1. ARCH and MARCH tests of daily dollar returns Currency AUD DEM ESP GBP ITL JPY NLG 5% CV ARCH(IJ.Physica A 382 (2007) 209–212 Market efficiency in foreign exchange markets Gabjin Oha,, Seunghwan Kima, Cheoljun Eomb aAsia Pacific Center for Theoretical Physics.

AIM the market provided by the Exchange for transactions in AIM securities AIM security a security which the Exchange has admitted to trading on AIM.

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