Fragmenting clearing across multiple central counterparties (CCPs) is costly. This is because dealers providing … liquidity globally, cannot net trades cleared in different CCPs and this increases their collateral costs. These costs are then …

friction costs sellers clearing in LCH $80 milliondaily …Fragmenting clearing across multiple central counterparties (CCPs) is costly because globaldealers cannot net positions … CCP data for interest-rate derivatives, yields broad empirical supportfor the model and suggests that the clearing …

Clearing members face substantial costs for capital as they post Initial Margin and are required to contribute to the … Default Fund of the Central Counterparty Clearing House (CCP). In this paper, we discuss how these costs can be priced and … exchange.The Default Fund Contribution is particularly delicate to cost because clearing members cannot predict the size of …

equity markets. Only the Nasdaq's Order Handling Rules (OHR), the one reform that reduced institutional trading costs … institutional trading costs after the OHR …

Illiquidity measures appear to be related to monthly realized returns but do they impact long-run costs of capital (CoC …

achieved by going from trading on a human time scale to a low latency time scale is comparable with other execution costs faced …

The research aimed to check whether investment fund managers maintain costs similarly from period to period. The … research verified the hypothesis that managers maintain costs in the subsequent periods at a similar level. The study used a … performance with costs, assuming that managers also control these values. Costs were defined as: (1) total costs, (2) total costs …