Junge, Benjamin - In: Essays on the market structure and pricing of credit …, (pp. 69-103, 185-173). 2016
liquidity provision declined around the introduction of so-called swap execution facilities (SEFs); i.e., regulated trading …The third chapter documents a decline of transaction costs and profits from liquidity provision in the index CDS market … costs and are less profitable from a liquidity provider’s perspective in comparison to bilaterally negotiated trades, which …
