arXiv subjects

Claudio Bellani

Publications and source records attributed to Claudio Bellani.

6 recordsLinked to original sources

arXiv2025

Sub-unit cell engineering of CrVO$_3$ superlattice thin films

Ordered corundum oxides introduce new prospects in the field of functional oxides thin films, complementing the more widely studied class of ABO$_3$ perovskites. In this work, we take advantage of the layer-by-layer growth regime to fabricate epitaxial CrVO$_3$ superlattice thin films with atomic-scale accuracy on the periodic arrangement of Cr and V layers. By means of X-ray diffraction, scanning transmission electron microscopy and Raman spectroscopy, we confirm the thickness control in the sub-unit cell scale, alternating 3, 2 or 1 single atomic layers of Cr$_2$O$_3$ and V$_2$O$_3$. For the first time, we stabilize the ilmenite phase of CrVO$_3$ (space group R-3) and compare the functional properties of the thin film with those calculated by density functional theory. This novel approach to the growth of ordered corundum oxides opens the path towards the stabilization of new complex oxides with tailored properties by varying the composition and the superlattice period, ultimately broadening the family of functional rhombohedral oxides.

cond-mat.mtrl-sci↗

arXiv2023

Confinement-Induced Isosymmetric Metal-Insulator Transition in Ultrathin Epitaxial V2O3 Films

Dimensional confinement has shown to be an effective strategy to tune competing degrees of freedom in complex oxides. Here, we achieved atomic layered growth of trigonal vanadium sesquioxide (V2O3) by means of oxygen-assisted molecular beam epitaxy. This led to a series of high-quality epitaxial ultrathin V2O3 films down to unit cell thickness, enabling the study of the intrinsic electron correlations upon confinement. By electrical and optical measurements, we demonstrate a dimensional confinement-induced metal-insulator transition in these ultrathin films. We shed light on the Mott-Hubbard nature of this transition, revealing an abrupt vanishing of the quasiparticle weight as demonstrated by photoemission spectroscopy. Furthermore, we prove that dimensional confinement acts as an effective out-of-plane stress. This highlights the structural component of correlated oxides in a confined architecture, while opening an avenue to control both in-plane and out-of-plane lattice components by epitaxial strain and confinement, respectively.

cond-mat.mtrl-sci↗

arXiv2022

Non-average price impact in order-driven markets

We present a measurement of price impact in order-driven markets that does not require averages across executions or scenarios. Given the order book data associated with one single execution of a sell metaorder, we measure its contribution to price decrease during the trade. We do so by modelling the limit order book using state-dependent Hawkes processes, and by defining the price impact profile of the execution as a function of the compensator of a stochastic process in our model. We apply our measurement to a data set from NASDAQ, and we conclude that the clustering of sell child orders has a bigger impact on price than their sizes.

q-fin.TR↗

arXiv2020

Option pricing models without probability: a rough paths approach

We describe the pricing and hedging of financial options without the use of probability using rough paths. By encoding the volatility of assets in an enhancement of the price trajectory, we give a pathwise presentation of the replication of European options. The continuity properties of rough-paths allow us to generalise the so-called fundamental theorem of derivative trading, showing that a small misspecification of the model will yield only a small excess profit or loss of the replication strategy. Our hedging strategy is an enhanced version of classical delta hedging where we use volatility swaps to hedge the second order terms arising in rough-path integrals, resulting in improved robustness.

q-fin.MF↗

arXiv2020

Mechanics of good trade execution in the framework of linear temporary market impact

We define the concept of good trade execution and we construct explicit adapted good trade execution strategies in the framework of linear temporary market impact. Good trade execution strategies are dynamic, in the sense that they react to the actual realisation of the traded asset price path over the trading period; this is paramount in volatile regimes, where price trajectories can considerably deviate from their expected value. Remarkably however, the implementation of our strategies does not require the full specification of an SDE evolution for the traded asset price, making them robust across different models. Moreover, rather than minimising the expected trading cost, good trade execution strategies minimise trading costs in a pathwise sense, a point of view not yet considered in the literature. The mathematical apparatus for such a pathwise minimisation hinges on certain random Young differential equations that correspond to the Euler-Lagrange equations of the classical Calculus of Variations. These Young differential equations characterise our good trade execution strategies in terms of an initial value problem that allows for easy implementations.

q-fin.TR↗

arXiv2019

Static vs Adaptive Strategies for Optimal Execution with Signals

We compare optimal static and dynamic solutions in trade execution. An optimal trade execution problem is considered where a trader is looking at a short-term price predictive signal while trading. When the trader creates an instantaneous market impact, it is shown that transaction costs of optimal adaptive strategies are substantially lower than the corresponding costs of the optimal static strategy. In the same spirit, in the case of transient impact it is shown that strategies that observe the signal a finite number of times can dramatically reduce the transaction costs and improve the performance of the optimal static strategy.

q-fin.TR↗