Research preview

The Ivory Coast government’s recent push to shut down illegal gold mining operations raises questions far beyond environmental policy. For quantitative traders, the move signals a potential shift in commodity supply, currency exposure, and, critically, market microstructure in a region where liquidity is already thin. Understanding how order‑book dynamics react to sudden policy shocks can sharpen execution strategies and risk models. Supply Shock Meets Market Microstructure When a major producer tightens output, price discovery can accelerate, especially in markets where order books are shallow. Illegal gold mining contributes a non‑trivial share of the country’s informal gold flow....