Search Results - subject_exact:"OTC-Handel"

Will central clearing change the market structure of U.S. Treasury repo to become more standardized and trade on an all-to-all basis?

Patel, Ketan - 2026

This paper examines whether the SEC's mandate for central clearing of U.S. Treasury repo transactions could enable all-to-all trading and support the development of a standardized term repo market. By mitigating counterparty risk through central clearing, cash lenders may become more willing to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611478

The impact of dark pools on the market and market quality

Wakamatsu, Hiroaki - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613485

Margins as canaries in the coal mine

Kubitza, Christian; Oehmke, Martin - 2026

Central clearing counterparties (CCPs) manage counterparty risk by requiring clearing members to post margins. This paper explores the role of margins as "canaries in the coal mine:" By inducing defaults of fragile counterparties before contract maturity, margin calls enable CCPs to transfer...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605599

The market for voluntary carbon offsets

Berg, Florian; Ceccarelli, Marco; Heeb, Florian; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626682

Dealers as record keepers

Kuong, John Chi-Fong; Maurin, Vincent - 2026 - This version: February 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015643393

The evolution of the corporate bond market : a theoretical analysis

Kargar, Mahyar; Lester, Benjamin; Üslü, Semih; Weill, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015650609

Dealers, information and liquidity provision in safe assets

Czech, Robert; Monroe, Win - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016062682

An optimization-based approach to central counterparty collateral determination

Takino, Kazuhiro - 2026

In financial markets, central counterparties (CCP) play a crucial role by managing counterparty risk through collateral requirements. This study proposes a framework for modeling a CCP's optimization problem to describe observed collateral requirements. Two models are developed: the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016082733

Rewiring repo

Chang, Jin Wook; Klee, Elizabeth; Yankov, Vladimir - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015271468

Systemic risk under different clearing methods for multiple derivatives

Tang, Miao; Fan, Hong - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015633583

Sequential search for corporate bonds

Kargar, Mahyar; Lester, Benjamin; Plante, Sébastien; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015357305

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Sequential Search for Corporate Bonds

Kargar, Mahyar; Lester, Benjamin; Plante, Sébastien; … - 2023

Book / Working Paper

Shadow discounts

Lee, Tomy; Lotti, Isacco; Nagler, Florian; Ottonello, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669992

The secondary market for syndicated loans

Siedlarek, Jan-Peter; Yankov, Vladimir - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015417968

Bundling Trades In Over-The-Counter Markets

Allen, Jason; Wittwer, Milena - 2026

In the canonical view of over-the-counter markets, dealers intermediate single-asset trades one at a time. We study a complementary role: when investors trade several assets at once, dealers absorb the joint position into inventory, insuring against execution risk. Using data on the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063246

Learning and information diffusion in OTC markets : experiments and a computational model

Hanaki, Nobuyuki; Iori, Giulia; Vassallo, Pietro - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015464333

Regulating over-the-counter markets

Lee, Tomy; Wang, Chaojun - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015474333

Comparing search and intermediation frictions across markets

Pinter, Gabor; Üslü, Semih; Wijnandts, Jean-Charles - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015448712

Exchange-traded funds and transparency in over-the-counter markets

Doan, Viet-Dung - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015459403

Unintended consequences of regulating central clearing

D'Erasmo, Pablo N.; Erol, Selman; Ordoñez, Guillermo - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015445548

Portfolio choice and settlement frictions : a theory of endogenous convenience yields

Bianchi, Javier; Bigio, Saki - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015556722

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Portfolio Choice and Settlement Frictions : A Theory of Endogenous Convenience Yields

Bianchi, Javier; Bigio, Saki - 2025

Book / Working Paper

Central bank interventions and asset market liquidity

Geromichalos, Athanasios; Jung, Kuk Mo; Kospentaris, Ioannis - 2025 - First version: August 2025

Central banks around the world routinely engage in asset purchases in secondary markets as part of implementing monetary policy or enhancing market liquidity, but the effects of such interventions are not yet fully understood. We develop a multi-asset general equilibrium model in which the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015482582

Pricing vulnerable options when debts have performance-sensitivity provisions

Liu, Yu-Hong; Jiang, I-Ming; Hung, Mao-Wei - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015482673

EMIR data analytics for research, financial stability and supervision

2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015475258

How does standardization affect OTC markets in the long term? : evidence from the small bang reform in the CDS market

Manac, Radu-Dragomir; Banti, Chiara; Kellard, Neil - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015063652

Balance-sheet netting in U.S. Treasury markets and central clearing

Bowman, David; Huh, Yesol; Infante, Sebastian - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015056345

Exchanges for government bonds? : evidence during COVID-19

Kutai, Ari; Nathan, Daniel; Wittwer, Milena - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015547581

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Exchanges for government bonds? : evidence during COVID-19

Kutai, Ari; Nathan, Daniel; Wittwer, Milena - 2024

Book / Working Paper

The economics of over-the-counter markets : a toolkit for the analysis of decentralized exchange

Hugonnier, Julien; Lester, Benjamin; Weill, Pierre-Olivier - 2025

"An essential PhD primer on an understudied yet important area of financial markets. Financial markets are complicated, and as we are periodically reminded by confounding market turmoil, it's important to understand how they work and how we can regulate them. The US stock market, which comprises...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015162826

The fundamental role of the repo market and central clearing

Di Luigi, Cristina; Perrella, Antonio; Ruggieri, Alessio - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015441869

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The fundamental role of the repo market and central clearing

Di Luigi, Cristina; Perrella, Antonio; Ruggieri, Alessio - 2024

Book / Working Paper

The outside option channel of central bank asset purchase programs : a tale of two crises

Lee, Changhyun - 2024

I suggest a new channel through which central bank asset purchase programs could have effects on asset prices: The outside option channel. After the global financial crisis, central banks have widened the variety of assets they can purchase. Secondary markets for the majority of the newly...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015069555

Stress testing OTC derivatives : clearing reforms and market frictions

Casu, Barbara; Kalotychou, Elena; Katsoulis, Petros - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015323993

Dealer inventory and the cross-section of corporate bond returns

Friewald, Nils; Nagler, Florian - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015076672

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Dealer inventory and the cross-section of corporate bond returns

Friewald, Nils; Nagler, Florian - 2024

Book / Working Paper

Human vs. machine : the impact of information processing on trading in OTC markets

Box, Travis; Davis, Ryan - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015199582

Pricing implications of centrality in an OTC derivative market : an empirical analysis using transaction-level CDS Data

Maehashi, Kohei; Miyakawa, Daisuke; Sasamoto, Kana - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015078199

Reservation rates in interbank money markets

Rainone, Edoardo - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015471288

Search frictions in over-the-counter foreign exchange markets : theory and evidence

Lu, Dong; Puzzello, Daniela; Zhu, Aiyong - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015473025

Pricing of interdealer derivatives in a limit order market

Kamate, Vidya; Kumar, Abhishek - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014487019

Over-the-counter markets for nonstandardized assets

Nozawa, Yoshio; Tsoy, Anton - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015474371

Execution uncertainty of dark pools and portfolio balance

Zhu, Jianchang; Sun, Xuchu; Li, Tangrong - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014531284

Intermediation in networks

Siedlarek, Jan-Peter - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015450113

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Intermediation in networks

Siedlarek, Jan-Peter - 2015

Book / Working Paper

Intermediation in networks

Siedlarek, Jan-Peter - 2014

Book / Working Paper

Sharks in the dark : quantifying HFT dark pool latency arbitrage

Aquilina, Matteo; Foley, Sean; O'Neill, Peter; Ruf, Thomas - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014532187

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Sharks in the dark: quantifying HFT dark pool latency arbitrage

Aquilina, Matteo; Foley, Sean; O'Neill, Peter; Ruf, Thomas - 2023

Book / Working Paper

OTC market frictions in stressed markets

Cappellen, Jef van; Garavito, Fabian; Georgiev, Yordan; … - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014532265

Skin in the game : risk analysis of central counterparties

Cont, Rama; Ghamami, Samim - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015445494

On the solution of games with arbitrary payoffs : an application to an over-the-counter financial market

Kollias, Iraklis; Leventides, John; Papavassiliou, … - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014533366

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On the Solution of Games With Arbitrary Payoffs : An Application to an Over-the-Counter Financial Market

Kollias, Iraklis; Leventides, John; Papavassiliou, … - 2023

Book / Working Paper

Execution risk and price improvement under dark pools

Bernales, Alejandro; Ladley, Dan; Litos, Evangelos; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015556720

Valuing vulnerable basket options with stochastic liquidity risk in reduced-form models

Wang, Bohua; Wang, Xingchun; Zhao, Mengjie - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015591118

Repo intermediation and central clearing : an analysis of sponsored repo

Copeland, Adam; Kahn, R. Jay - 2024

This paper evaluates the salient forces behind a dealer-intermediary's decision to move a bilateral repo transaction with a customer into central clearing. We provide evidence that dealers turn to sponsored repo on occasions when balance sheet space is scarce, such as when there is a large...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015163715