-issued options. These markets exist side-by- side, offering many options with identical or similar characteristics. We motivate the …

In this paper, we compare option contracts from a traditional derivatives exchange to bank-issued options, also … counterparty for bank-issued options, they frequently exist side-by-side, and the empirical evidence shows that there is …-issued options have smaller quoted percentage bid-ask spreads than traditional option contracts by an average of 4.3%. The bid …

Since 1998, large investment banks have become active as issuers of options, generally referred to as call warrants or … bank-issued options. This has led to an interesting situation in the Netherlands, where simultaneously call warrants are … traded on the stock exchange, and long-term call options are traded on the options exchange. Both entitle their holders to …