The Journal of Finance and Data Science Volume 2, Number 1, March 2016 Table of Contents Original Articles Pricing and hedging of arithmetic Asian options via the Edgeworth series expansion approach Weiping Li , Su Chen 1 Foreign exchange market microstructure and the WM/Reuters 4 pm fix P.S. Michelberger , J.H. Witte 26 A hybrid stock trading framework integrating technical analysis with machine learning techniques Rajashree Dash , Pradipta Kishore Dash 42 Auto insurance fraud detection using unsupervised spectral ranking for anomaly Ke Nian , Haofan Zhang , Aditya Tayal , Thomas Coleman , Yuying Li 58 BRICS market nexus for cross listed stocks: A VECX* framework S. Visalakshmi , P. Lakshmi 76