Mohammed Mraoua LERMA, Mohammadia School of Engineers and LOFIMS, INSA of Rouen   LERMA, Mohammadia School of Engineers Av. Ibn Sina, BP 765, Agdal Rabat, Morocco   mohammed.mraoua@hec.ca             JEL Areas: G1 : General Financial Markets: General (includes Measurement and Data) C1 : Econometric and Statistical Methods: General