Available at: http://hdl.handle.net/2078.1/265846 [Downloaded 2023/12/05 at 19:04:25 ] "The three felicity conditions for “Open Mouth Operations”" Duterme, Tom ABSTRACT For central bank announcements (CBA) to exercise autonomous power over financial markets, certain felicity conditions must be met. Their independence and transparency were quickly pinpointed by economists. Other factors have recently been identified by social scientists, such as their educative apparatus and their insertion in the institutional configuration. Based on Peirce’s semiotics, this paper proposes a more systematic view of these felicity conditions: for a sign – e‧g. CBA – to perform in financial markets, it must be followed by market professionals. Peirce’s triadic conceptualization allows us to break down this requirement: the sign must be perceived (as when one says “I follow the news”), understood (“I didn’t follow a word he said”) and obeyed (“I follow the instructions”). This distinction points to strata of social life where the success or failure of these processes of signification is played out: the situation that shares the visible and the invisible, the organization that generates and transmits cognitive resources, and the institution that stabilizes authority. Using this grid, we identify, for the case of CBA, the elements that are well documented in the literature and those that are not. By mobilizing some ethnographic material from a recent survey in a trading room, we then open up some avenues of research related to the situational issue that appears to be under-documented. CITE THIS VERSION Duterme, Tom. The three felicity conditions for “Open Mouth Operations”.Intersections of finance and society 2022 (Londres, du 15/09/2022 au 16/09/2022). http://hdl.handle.net/2078.1/265846 Le dépôt institutionnel DIAL est destiné au dépôt et à la diffusion de documents scientifiques émanant des membres de l'UCLouvain. Toute utilisation de ce document à des fins lucratives ou commerciales est strictement interdite. L'utilisateur s'engage à respecter les droits d'auteur liés à ce document, principalement le droit à l'intégrité de l'œuvre et le droit à la paternité. La politique complète de copyright est disponible sur la page Copyright policy DIAL is an institutional repository for the deposit and dissemination of scientific documents from UCLouvain members. Usage of this document for profit or commercial purposes is stricly prohibited. User agrees to respect copyright about this document, mainly text integrity and source mention. Full content of copyright policy is available at Copyright policy