Futurisation Of Swaps Otc Market Regulation With Mifir And Mifid Ii

Author : Sabrina Schleimer
Publisher : GRIN Verlag
Page : 17 pages
File Size : 55,9 Mb
Release : 2018-08-20
Category : Business & Economics
ISBN : 9783668776579

Get Book

Futurisation of Swaps & OTC Market Regulation with MIFIR and MIFID II by Sabrina Schleimer Pdf

Seminar paper from the year 2018 in the subject Business economics - Investment and Finance, grade: 1,0, University of Strathclyde (Business School), course: Derivatives and Treasury Management, language: English, abstract: The necessity of increased stabilisation and regulation of financial markets, especially over-the-counter markets, has received increased international attention following the financial crisis of 2007-08.1 Previously, swap markets were largely ‘in the dark’ when compared to exchange traded derivatives. The reactionary regulation, the Dodd-Frank Act, has severely tightened the OTC swaps markets through standardisation, increased collateral requirements and reporting standards and a more refined clearing mandate; to continue our analogy, it has sought to bring the swaps market into the light. Due to this increased regulation and subsequent increased costs associated with trading swaps, large swathes of swap trading migrated onto futures exchanges, in a process known as swap futurisation. This offered market participants regulatory certainty as well as a reduction in some of the more onerous costs and requirements under the Dodd-Frank Act. With eight years of trading under the Dodd-Frank regulation, our investigation into the advantages and disadvantages of swap futurisation will focus on trends seen in American data. Following on we will look more closely at the European Union’s response, namely the Markets in Financial Instruments Directive II and the Markets in Financial Instruments Regulation.

Author : Federico Lupo-Pasini
Publisher : Cambridge University Press
Page : 309 pages
File Size : 54,5 Mb
Release : 2017-08-18
Category : Business & Economics
ISBN : 9781107189027

Get Book

The Logic of Financial Nationalism by Federico Lupo-Pasini Pdf

This book analyzes the dangers of financial nationalism in an interconnected global financial system, and discusses how international law might address them.

Author : Eric Helleiner,Stefano Pagliari,Hubert Zimmermann
Publisher : Routledge
Page : 296 pages
File Size : 47,5 Mb
Release : 2010-01-21
Category : Business & Economics
ISBN : 9781135157616

Get Book

Global Finance in Crisis by Eric Helleiner,Stefano Pagliari,Hubert Zimmermann Pdf

From the vantage point of the key powers in global finance including the United States, the European Union, Japan, and China, this highly accessible book brings together leading scholars to examine current changes in international financial regulation. They assess whether the flurry of ambitious initiatives to improve and strengthen international financial regulation signals an important turning point in the regulation of global finance. The text: Examines the kinds of international reforms have been implemented to date and patterns of international regulatory change. Provides an analysis of change across a number of financial sectors, including the regulation of hedge funds, derivatives, credit rating agencies, accounting, and banks. Offers an explanation of contemporary regulatory developments with reference to inter-state power dynamics, domestic politics, transgovernmental networks, and/or transnational non-state forces. Providing the first systematic analysis of the international regulatory response to the current global financial crisis, this ground-breaking volume is vital reading for students and scholars of international political economy, international relations, global governance, finance and economics.

Author : Thierry Foucault,Christine Parlour
Publisher : Unknown
Page : 64 pages
File Size : 47,9 Mb
Release : 1999
Category : Business enterprises
ISBN : UVA:X006094636

Get Book

Competition for Listings by Thierry Foucault,Christine Parlour Pdf

Author : Daniel Fritzler
Publisher : GRIN Verlag
Page : 64 pages
File Size : 49,5 Mb
Release : 2018-12-18
Category : Electronic
ISBN : 3668936706

Get Book

The MiFID II Tick Size Regime. Impact on European Equities Trading by Daniel Fritzler Pdf

Bachelor Thesis from the year 2018 in the subject Business economics - Investment and Finance, grade: 1,3, University of Frankfurt (Main) (Professur für e-Finance), language: English, abstract: Before the Markets in Financial Instruments Directive (MiFID I) was applied in 2007, exchanges were able to implement their own tick size without being concerned about competition, since trading was concentrated to the incumbent exchanges. The increased fragmentation and competition after the introduction of MiFID I in Europe started a race between the incumbent exchanges and alternative venues towards everfiner tick sizes in order to offer better prices and gain market share. Over the past few years, this trend has increased and caused adverse effects on the market quality. On March 3rd, 2018, MiFID II introduced a harmonized tick size regime that takes each stock's price and liquidity into account in order to address the negative impact of the \race to the bottom" that began with MiFID I. The aim of this bachelor thesis is to investigate whether the introduction of the MiFID II tick size regime has achieved its desired effect of positively impacting the European equity market quality. Therefore, I will study and summarize the existing literature about the general effect of tick size changes on security markets, whereby I distinguish between tick size changes that are caused by changes in tick size rules and price movements. Furthermore, I will introduce the main concepts of the new regulatory framework Markets in Financial Instruments Directive II / Markets in Financial Instruments Regulation (MiFID II/MiFIR) with a focus on the new tick size regime and its consequences for the European market. The core of this paper is the empirical study on the effects of tick size changes brought about by MiFID II's tick size regime on market quality, using data from the German home market Xetra. I will first investigate the overall impact of the regime on the most frequently traded sto

Author : Christian Bohm
Publisher : GRIN Verlag
Page : 76 pages
File Size : 53,7 Mb
Release : 2011-01-12
Category : Business & Economics
ISBN : 9783640797875

Get Book

The Gold Lending Market by Christian Bohm Pdf

Diploma Thesis from the year 2010 in the subject Business economics - General, grade: 1,3, Humboldt-University of Berlin, language: English, abstract: This paper empirically examines a subsection of the gold market that has evolved within the last 20 years. To date, academic literature has primarily focused on analytical and empirical analyses of the physical gold market and the gold price. This study will contribute to the existing gold market literature from a different perspective: the lending market. Therefore this thesis will initially investigate how the gold lending market functions in general. This will include an analytical overview of the main transaction types, the market participants and their intentions, the gold lease rate, and the impact of central bank lending policy. Secondly, it is unclear as to what the determinants of demand and supply are for the leasing market. Linking theoretical and empirical findings from the gold market and the gold price, this thesis seeks to set up a gold lending market equilibrium. With that, the gold lease rate is derived and empirically tested. The resulting determinants of the gold lease rate are developed with quarterly time-series data from 1990 to 2009.

Author : David A. Currie,David T. Llewellyn,Charles Goodhart
Publisher : Springer
Page : 285 pages
File Size : 47,9 Mb
Release : 1987-01-19
Category : Business & Economics
ISBN : 9781349092871

Get Book

The Operation and Regulation of Financial Markets by David A. Currie,David T. Llewellyn,Charles Goodhart Pdf

Financial markets in Britain, and elsewhere, are in the midst of a process of fundamental structural change. The resulting shifts in the behaviour of such markets will require the authorities, in turn, to revise their regulatory and control methods. This book incorporates a series of articles by leading British monetary economists to examine both the implications of such structural changes and also to model the current working of these markets. Within this unified framework, the articles range from descriptive accounts of recent developments in bank supervision and in the structure of the London capital markets to more formal econometric studies of the inter-relationships between money and other economic variables, and of the workings of financial markets. This provides a showcase to exhibit the most up-to-date research of leading British monetary economists.

Author : Alan Bjerga
Publisher : John Wiley & Sons
Page : 224 pages
File Size : 49,8 Mb
Release : 2011-09-23
Category : Business & Economics
ISBN : 9781118169599

Get Book

Endless Appetites by Alan Bjerga Pdf

How to understand the twenty-first century food crisis Since 2007, farm-product prices have rocketed and plunged, causing hunger, malnutrition, and social and political upheaval around the world. Endless Appetites explores how "food security," the availability of food and the reasonable ability to buy it, has become one of the most challenging topics of our time. With every jump in grocery-store prices, the issue becomes more and more pressing, proven by this year's record increase in food prices, which has already topped the spike of 2008. Award-winning commodities reporter Alan Bjerga explains the food crisis and why it is happening in an accessible, articulate manner Why is this happening when more food is being grown than ever? Why are crop markets?first established in the 1800's to help stabilize agricultural commodity prices?acting like an investors' casino, with prices absorbed by rich nations taking food from the mouths of the poor? From college campuses to emergency UN meetings, "food security" is one of the hottest topics of the day, with no shortage of interest in how to stabilize food prices worldwide to close the hunger gap To understand the growing international food crisis, readers need an expert they can rely on. One of the most widely acclaimed journalists on food security, Alan Bjerga is up to the task, taking readers from the trading floor of Chicago to the highlands of East Africa to the rice paddies of Thailand on a global trek to find the causes of the food-price crisis?and the solutions.

Author : Maros Ivanic
Publisher : World Bank Publications
Page : 57 pages
File Size : 42,8 Mb
Release : 2008
Category : Food commodities
ISBN : 8210379456XXX

Get Book

implications of higher global food prices for poverty in low-income countries by Maros Ivanic Pdf

Abstract: In many poor countries, the recent increases in prices of staple foods raise the real incomes of those selling food, many of whom are relatively poor, while hurting net food consumers, many of whom are also relatively poor. The impacts on poverty will certainly be very diverse, but the average impact on poverty depends upon the balance between these two effects, and can only be determined by looking at real-world data. Results using household data for ten observations on nine low-income countries show that the short-run impacts of higher staple food prices on poverty differ considerably by commodity and by country, but, that poverty increases are much more frequent, and larger, than poverty reductions. The recent large increases in food prices appear likely to raise overall poverty in low income countries substantially.

Author : Joachim von Braun
Publisher : Intl Food Policy Res Inst
Page : 27 pages
File Size : 46,6 Mb
Release : 2008-12-14
Category : Social Science
ISBN : 9780896295346

Get Book

Food and financial crises: Implications for agriculture and the poor by Joachim von Braun Pdf

Author : Anonim
Publisher : Unknown
Page : 12 pages
File Size : 52,5 Mb
Release : 1964
Category : Food
ISBN : UIUC:30112018974862

Get Book

Food Prices and why by Anonim Pdf

Author : Philip Mader,Daniel Mertens,Natascha van der Zwan
Publisher : Routledge
Page : 564 pages
File Size : 47,9 Mb
Release : 2020-02-05
Category : Business & Economics
ISBN : 9781351390361

Get Book

The Routledge International Handbook of Financialization by Philip Mader,Daniel Mertens,Natascha van der Zwan Pdf

Financialization has become the go-to term for scholars grappling with the growth of finance. This Handbook offers the first comprehensive survey of the scholarship on financialization, connecting finance with changes in politics, technology, culture, society and the economy. It takes stock of the diverse avenues of research that comprise financialization studies and the contributions they have made to understanding the changes in contemporary societies driven by the rise of finance. The chapters chart the field’s evolution from research describing and critiquing the manifestations of financialization towards scholarship that pinpoints the driving forces, mechanisms and boundaries of financialization. Written for researchers and students not only in economics but from across the social sciences and the humanities, this book offers a decidedly global and pluri-disciplinary view on financialization for those who are looking to understand the changing face of finance and its consequences.

Author : Peter Mooslechner
Publisher : Edward Elgar Publishing
Page : 284 pages
File Size : 51,5 Mb
Release : 2006-08-29
Category : Business & Economics
ISBN : 9781781007549

Get Book

The Political Economy of Financial Market Regulation by Peter Mooslechner Pdf

'In this very nice volume reputed academics and central bankers discuss recent regulatory reforms in financial governance from a political economy perspective. Therefore it is invaluable for both policymakers and scholars interested in financial governance and market regulation.' - Sylvester C.W. Eijffinger, Tilburg University, The Netherlands, Centre for Economic Policy Research, UK and CESifo Research Network, Munich, Germany This book focuses on recent financial market reforms, and their implications for social, economic and political exclusion. In particular it considers the hitherto under-researched question of whose interests govern the design of regulatory mechanisms and who influences the decision-making process. This process is set out as contested terrain, in which there are winners and losers, and in which there are inevitably circles of exclusion. The authors, comprising financial authority experts and academic specialists, expand the concept of exclusion beyond its typical social dimension to incorporate all actors, be they individuals or institutions not permitted to contribute to financial market regulation as a public good. As they point out, this may take the form of political, economic or indeed cultural exclusion. The book examines the conflicts that arise between various interests and how these are managed within the process of regulation.

Author : Danny Busch,Guido Ferrarini,Gerard van Solinge
Publisher : Oxford Eu Financial Regulation
Page : 0 pages
File Size : 51,6 Mb
Release : 2019
Category : Business & Economics
ISBN : 0198799977

Get Book

Governance of Financial Institutions by Danny Busch,Guido Ferrarini,Gerard van Solinge Pdf

This book examines the topical issue of governance of financial institutions, covering banks, investment firms, asset management, pension funds and insurance firms. It comprehensively analyses the impact and practice of the new and more robust requirements for management functions under MiFID II (Markets in Financial Instruments Directive) and other regulation such as MAR (Market Abuse Regulation). Thematically grouped chapters provide extensive coverage of the main areas of change and interest in this field: financial regulation, models, systemic risk, culture and ethics, and conduct and culture. Each chapter employs an interdisciplinary approach, providing high-quality analysis and discussion of the governance of financial institutions of a practical, as well as theoretical, nature. Written by a team of expert contributors, comprised of leading scholars with broad practical experience, and leading practitioners in the field of corporate governance, this book provides much needed analysis of this important topic and the new rules for those advising financial institutions.

Author : Niamh Moloney
Publisher : Cambridge University Press
Page : 501 pages
File Size : 53,9 Mb
Release : 2010-01-21
Category : Law
ISBN : 9781139485555

Get Book

How to Protect Investors by Niamh Moloney Pdf

As governments around the world withdraw from welfare provision and promote long-term savings by households through the financial markets, the protection of retail investors has become critically important. Taking as a case study the wide-ranging EC investor-protection regime which now governs EC retail markets after an intense reform period, this critical, contextual and comparative examination of the nature of investor protection explores why the retail investor should be protected, whether retail investor engagement with the markets should be encouraged and how investor protection laws should be designed, particularly in light of the financial crisis. The book considers the implications of the EC's investor protection rules 'on the books' but also considers investor protection law and policy 'in action', drawing on experience from the UK retail market and in particular the Financial Services Authority's extensive retail market activities, including the recent Retail Distribution Review and the Treating Customers Fairly strategy.