Narrow search
Showing 1 - 10 of 108,054
Cover Image
Policy responses to dislocations in the FX swap market: the experience of Korea
Baba, Naohiko; Shim, Ilhyock - In: BIS quarterly review : international banking and … (2010), pp. 29-39
Persistent link: https://www.econbiz.de/10003981327
Cover Image
Trading Activity and Price Transparency in the Inflation Swap Market
Fleming, Michael J. - 2013
the inflation swap and other derivatives markets operate. This article broadens that understanding by using a novel … transaction data set to examine trading activity and price transparency in the quickly growing U.S. inflation swap market. The … inflation swap market …
Persistent link: https://www.econbiz.de/10013076309
Cover Image
Does inter-market competition lead to less regulation?
Draus, Sarah - 2010
This paper presents a model to analyze the consequences of competition in order-flow between a profit maximizing stock exchange and an alternative trading platform on the decisions concerning trading fees and listing requirements. Listing requirements, set by the exchange, provide public...
Persistent link: https://www.econbiz.de/10003980636
Cover Image
Central counterparties and liquidity provision in cash markets
Richter, Thomas - In: Journal of risk and financial management : JRFM 14 (2021) 12, pp. 1-26
This paper investigates increased liquidity provision by market makers resulting from their ability to reduce balance sheet encumbrance through the use of central counterparties (CCPs). The introduction of the Basel III leverage rule constitutes a shock to market makers’ balance sheets and...
Persistent link: https://www.econbiz.de/10012798918
Cover Image
Centralized Clearing for Over-the-Counter Derivatives
Rausser, Gordon C. - 2009
Systemic risk propagated through over-the-counter derivatives can best be managed by a public-private central counterparty clearing house (CCP). Though private CCPs provide an adequate amount of clearing's private good, they do not provide the socially optimal level of the public good or impure...
Persistent link: https://www.econbiz.de/10013156276
Cover Image
Cyberfinance : Liberating the Financial Markets
Wales, Kim - 2015
A new economic revolution liberating financial markets? Seeks to answer some of the questions driving the existential crisis embroiling finance: What is currency? What is value? What is a business? What is a bank, even?This article discusses how regulatory reform, transformative technologies,...
Persistent link: https://www.econbiz.de/10013021212
Cover Image
Market efficiency and limits to arbitrage : evidence from the Volkswagen short squeeze
Allen, Franklin; Haas, Marlene; Nowak, Eric; Tengulov, Angel - 2018
On October 26, 2008, Porsche announced a largely unexpected domination plan for Volkswagen. The resulting short squeeze in Volkswagen's stock briefly made it the most valuable listed company in the world. We argue that this was a manipulation designed to save Porsche from insolvency and the...
Persistent link: https://www.econbiz.de/10011875647
Cover Image
Dislocations in the Won-Dollar Swap Markets During the Crisis of 2007-09
Shim, Ilhyock - 2020
functioning. During the crisis, Korea faced dislocations in its FX swap and cross-currency swap markets, so severe that covered … movement of deviations from CIP in the three-month FX swap market during the crisis period. The credit risk of Korean banks … - as proxied by their credit default swap spread - was also a significant factor explaining deviations from CIP in the …
Persistent link: https://www.econbiz.de/10012857428
Cover Image
Changes in repo markets and the necessity for CCPs in Korea
Yoon, Sun-Joong - In: Journal of derivatives and quantitative studies 32 (2024) 1, pp. 2-22
In 2022, US financial regulators proposed to mandate a single central clearing mechanism for treasury bonds and repo transactions to stabilize financial markets. The systemic risks inherent in repo markets were first highlighted by the global financial crisis and, as a response, global financial...
Persistent link: https://www.econbiz.de/10014497119
Cover Image
Dollar dominance in FX trading
Somogyi, Fabricius - 2022 - This version: 1 February 2022
Over 85% of all foreign exchange (FX) transactions involve the US dollar. I show that the US dollar dominates FX trading volume because of strategic avoidance of price impact. To demonstrate this, I leverage the fact that non-dollar currency pairs can be traded indirectly by using the US dollar...
Persistent link: https://www.econbiz.de/10012815985