We report Monte Carlo results for the two-dimensional hard disk system in thetransition region. Simulations were performed in the NVT ensemble with up to1024^2 disks. The scaling behaviour of the positional and bond-orientationalorder parameter as well as the positional correlation length prove theexistence of a hexatic phase as predicted by theKosterlitz-Thouless-Halperin-Nelson-Young theory. The analysis of the pressureshows that this phase is outside a possible first-order transition.
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