Multivariate subordination of stable processes

This article is devoted to some time-changed stochastic models based on multivariate stable processes. The considered models have several advantages in comparison with classical time-changed Brownian motions - for instance, it turns out that they are more appropriate for describing stock prices if the amount of transactions is used for a stochastic time change. In this paper, we provide a detailed discussion of the model, which is based on two popular concepts - multivariate subordination and L{\'e}vy copulas.