Derivative Market Competition PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Derivative Market Competition PDF full book. Access full book title Derivative Market Competition.
Author | : Mr.Jens Nystedt |
Publisher | : International Monetary Fund |
Total Pages | : 49 |
Release | : 2004-04-01 |
Genre | : Business & Economics |
ISBN | : 145184820X |
Download Derivative Market Competition Book in PDF, ePub and Kindle
Recent regulatory initiatives in the United States have again raised the issue of a 'level regulatory and supervisory playing field' and the degree of competition globally between over-the-counter (OTC) derivatives and organized derivative exchange (ODE) markets. This paper models some important aspects of how an ODE market interrelates with the OTC markets. It analyzes various ways in which an ODE market can respond to competition from the OTC markets and considers whether ODE markets would actually benefit from a more level playing field. Among other factors, such as different transaction costs, different abilities to mitigate credit risk play a significant role in determining the degree of competition between the two types of markets. This implies that a potentially important service ODE markets can provide OTC market participants is to extend clearing services to them. Such services would allow the OTC markets to focus more on providing less competitive contracts/innovations and instead customize its contracts to specific investors' risk preferences and needs.
Author | : Hau Harald |
Publisher | : International Monetary Fund |
Total Pages | : 45 |
Release | : 2019-05-07 |
Genre | : Business & Economics |
ISBN | : 1498303773 |
Download Discriminatory Pricing of Over-the-Counter Derivatives Book in PDF, ePub and Kindle
New regulatory data reveal extensive price discrimination against non-financial clients in the FX derivatives market. The client at the 90th percentile pays an effective spread of 0.5%, while the bottom quarter incur transaction costs of less than 0.02%. Consistent with models of search frictions in over-the-counter markets, dealers charge higher spreads to less sophisticated clients. However, price discrimination is eliminated when clients trade through multi-dealer request-for-quote platforms. We also document that dealers extract rents from captive clients and market opacity, but only for contracts negotiated bilaterally with unsophisticated clients.
Author | : Robert Lynch McDonald |
Publisher | : Addison-Wesley |
Total Pages | : 881 |
Release | : 2003 |
Genre | : Business & Economics |
ISBN | : 9780201729603 |
Download Derivatives Markets Book in PDF, ePub and Kindle
This text for derivatives courses are suitable for advanced undergraduates and both introductory and advanced derivatives courses at the MBA level. The material in derivatives courses is challenging for most students.
Author | : A. Carretta |
Publisher | : Springer |
Total Pages | : 255 |
Release | : 2013-02-03 |
Genre | : Business & Economics |
ISBN | : 1137293772 |
Download Asset Pricing, Real Estate and Public Finance over the Crisis Book in PDF, ePub and Kindle
The current financial crisis started from the US real estate market and after, though the increase of risk premium requested by investors and due to the lack of liquidity of all financial markets, it became a world financial crisis. A detailed analysis during the crisis focuses attention on asset management, the real estate and public sector.
Author | : Jens Nystedt |
Publisher | : |
Total Pages | : 54 |
Release | : 2004 |
Genre | : Capital market |
ISBN | : |
Download Derivative Market Competition Book in PDF, ePub and Kindle
Author | : Sean M. O'Connor |
Publisher | : |
Total Pages | : 82 |
Release | : 1993 |
Genre | : Derivative securities |
ISBN | : |
Download The Development of Financial Derivatives Markets Book in PDF, ePub and Kindle
Author | : Group of Ten. Committee on Payment and Settlement Systems |
Publisher | : |
Total Pages | : 80 |
Release | : 2004 |
Genre | : Clearing of securities |
ISBN | : |
Download Recommendations for Central Counterparties Book in PDF, ePub and Kindle
Author | : Ligia Catherine Arias-Barrera |
Publisher | : Routledge |
Total Pages | : 280 |
Release | : 2018-05-11 |
Genre | : Business & Economics |
ISBN | : 1351797719 |
Download Regulation and Supervision of the OTC Derivatives Market Book in PDF, ePub and Kindle
The over-the-counter (OTC) derivatives market has captured the attention of regulators after the Global Financial Crisis due to the risk it poses to financial stability. Under the post-crisis regulatory reform the concentration of business, and risks, among a few major players is changed by the concentration of a large portion of transactions in the new market infrastructures, the Central Counterparties (CCPs). This book, for the first time, analyses the regulatory response of the United Kingdom and the United States, the two largest centres of OTC derivatives transactions, and highlights their shortcomings. The book uses a normative risk-based approach to regulation as a methodological lens to analyse the UK regime of CCPs in the OTC derivatives market. It specifically focuses on prudential supervision and conduct of business rules governing OTC derivatives transactions and the move towards enhancing the use of central clearing. The resulting analysis, from a normative risk based approach, suggests that the UK regime for CCPs does not fulfil what would be expected if a coherent risk based approach was taken. Our comments on the Dodd-Frank Act highlight that the incoherent adoption of risk-based approach to regulation affects the effectiveness of the US regime for CCPs. Such a regime does not follow the pace of events of ‘innovation risk’; in particular, the foreseeable changes FinTech will bring to the OTCDM and central clearing services. The second inadequacy of the US regime concerns the dual regulatory structure of the CFTC and the SEC, and the inadequate adoption of different and not well-coordinated regulatory strategies. We also analyse the cross-border implications of the US regime for non-US CCPs that provide clearing services to US market participants. Finally, we study the negative effects of the absence of a clearly defined resolution regime for CCPs.
Author | : Edward LiPuma |
Publisher | : Duke University Press |
Total Pages | : 416 |
Release | : 2017-08-11 |
Genre | : Social Science |
ISBN | : 0822372835 |
Download The Social Life of Financial Derivatives Book in PDF, ePub and Kindle
In The Social Life of Financial Derivatives Edward LiPuma theorizes the profound social dimensions of derivatives markets and the processes, rituals, and belief systems that drive them. In response to the 2008 financial crisis and drawing on his experience trading derivatives, LiPuma outlines how they function as complex devices that organize speculative capital as well as the ways derivative-driven capitalism not only produces the conditions for its own existence, but also penetrates the fabric of everyday life. Framing finance as a form of social life and highlighting the intrinsically social character of financial derivatives, LiPuma deepens our understanding of derivatives so that we may someday use them to serve the public well-being.
Author | : United States. Congress. House. Committee on Financial Services |
Publisher | : |
Total Pages | : 224 |
Release | : 2010 |
Genre | : Business & Economics |
ISBN | : |
Download Reform of the Over-the-counter Derivative Market Book in PDF, ePub and Kindle