Author: United States. Congress. House. Committee on Interstate and Foreign Commerce
Publisher:
ISBN:
Category : Brokers
Languages : en
Pages : 108

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Book Description

Author: United States. Congress. Senate. Committee on Banking and Currency
Publisher:
ISBN:
Category : Brokers
Languages : en
Pages : 144

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Book Description

Author: Nick Cavalla
Publisher: Springer
ISBN: 1349130532
Category : Business & Economics
Languages : en
Pages : 308

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Book Description
To date, most academic and practical texts have concentrated on the exchange-traded markets and focused on the nature and price characteristics of the various listed instruments. By contrast, OTC Markets in Derivative Instruments deals in detail with the complexities of the over-the-counter markets - extending a description of the core products to a discussion of real world applications and risks. Regulatory, accounting and tax issues are also covered. Contributors include Bankers Trust, BZW, GNI, Goldman Sachs, J.P. Morgan, Natwest Futures, Midland Montagu and Mitsubishi.

Author: Hau Harald
Publisher: International Monetary Fund
ISBN: 1498303773
Category : Business & Economics
Languages : en
Pages : 45

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Book Description
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: United States. Congress. Senate. Banking and Currency Committee
Publisher:
ISBN:
Category :
Languages : en
Pages : 138

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Book Description

Author: United States. Congress. House. Committee on Agriculture. Subcommittee on Risk Management and Specialty Crops
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 152

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Book Description

Author: David Murphy
Publisher: Palgrave Macmillan
ISBN: 9781137293855
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
The OTC derivatives market has been hit by a massive wave of regulatory change. Capital and margin requirements have increased, trade reporting has been mandated, and execution mechanisms are evolving. Most of all, central clearing is being imposed for many transactions. OTC Derivatives: Bilateral Trading and Central Clearing explains the new rules and the new models. It discusses the traditional bilateral market, then sets out how this will change due to mandatory central clearing and the new ways in which OTC derivatives will have to be traded, reported, and processed. The risks of OTC derivatives clearing houses are discussed in detail, as are the protections that CCPs have against these risks. The book also looks at alternatives to some of the policy decisions that have been made, showing the balance between costs and benefits of various different approaches to derivatives market stability. The book is both a detailed primer on OTC derivatives clearing and a powerful insight into post-crisis financial regulation. Key features of the book include: • A discussion of the capital rules for OTC derivatives counterparty credit risk in Basel III; • An account of OTC derivatives trade processing in both bilateral and cleared markets; • A detailed account of the risk profile of OTC derivatives CCPs; • An explanation of the risks run in various collateral segregation models; and • A comparison of various macro-prudential tools for enhancing the financial stability of OTC derivatives markets.

Author: Christopher Chen
Publisher: BRILL
ISBN: 9004343415
Category : Law
Languages : en
Pages : 58

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Book Description
In this work, Christopher Chen examines and compares the regulation of over-the-counter derivatives in Hong Kong and Singapore, the two largest international financial centres in Asia Pacific. Chen analyses current or proposed regulations on trade reporting, centralised clearing and mandatory exchange trading mandates regarding OTC derivatives against the backdrop of reforms of international financial regulatory structure after the global financial crisis. The article also relates the reforms in Asia to development in major Western markets such as the US, the UK or the European Union. Apart from technical comparison and dissecting of content of rules from different angles, his work also examines the rationale behind those reforms and policy concerns behind Asian adoption of the regulatory mandates prescribed by G20 as well as potential policy concerns (such as competition and extraterritoriality) in a market that is dominated by Western banks.

Author: United States. Congress. House. Committee on Interstate and Foreign Commerce
Publisher:
ISBN:
Category :
Languages : en
Pages : 98

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Book Description

Author: Darrell Duffie
Publisher: Princeton University Press
ISBN: 0691138966
Category : Business & Economics
Languages : en
Pages : 115

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Book Description
This book offers a concise introduction to OTC markets by explaining key conceptual issues and modeling techniques, and by providing readers with a foundation for more advanced subjects in this field.