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counterparty credit risk in derivatives markets. I perform an empirical study of the incentives for voluntary central clearing of … OTC derivative contracts in Europe. Central clearing acts as insurance against counterparty credit risk related to … derivative contracts, and is legally mandated for a specific subset of standardized derivative contracts, with a significant …
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European closing auction volumes increased heavily over the past years, in particular sincethe introduction of MiFID II in 2018. We show that this increase in closing auction volumesince 2018 is driven by an increase in limit order volume and that it contributes to moreefficient price formation....
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