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The global market for OTC derivatives: An analysis of dealer holdings
Journal of Futures Markets, 2004We provide a descriptive examination of the trading activities of one of the most important intermediaries in global financial markets - the OTC derivatives dealer. These dealers play a central role in the provision of derivative products and in the intermediation of market risks faced by financial and non-financial firms alike.
Ekaterina E. Emm, Gerald D. Gay
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The role of market infrastructures in OTC derivatives markets
Journal of Securities Operations & Custody, 2012Regulators around the globe are trying to improve market infrastructures related to the over-the-counter (OTC) derivatives markets. The recent crisis has proved that financial markets with reliable and transparent post-trading infrastructures are much more resilient than other segments without basic and primary market infrastructures.
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Reforming the OTC credit derivatives market
Journal of Securities Operations & Custody, 2009The regulatory, operational and market infrastructures environment for OTC credit derivatives, especially credit default swaps (CDSs), is changing rapidly. Although final regulation has not yet been approved, it is nevertheless possible to speculate how the credit derivatives and especially the CDS landscape will look once new regulation is implemented.
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The Governance of OTC Derivatives Markets
2006This 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.
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An equilibrium model for the OTC derivatives market with a collateral agreement
Journal of Commodity Markets, 2015In this paper, we consider the over the counter (OTC) derivatives market model with the counterparty risk and the collateral agreement. We then verify the effect of the collateral agreement on the derivative transaction by using the equilibrium analysis in Microeconomics. We first model the financial market as an incomplete market model which forces us
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OTC Energy and Related Derivative Markets
2003Nearly all the key terms of an OTC derivatives deal are negotiable, which means that the pricing reference, the payment terms and the volume can all be adjusted to suit the counterparts to the deal. This is a benefit if an organisation has a very specialised or unique price risk which requires a one-off hedging tool.
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Developments in Foreign Exchange and OTC Derivatives Markets [PDF]
Global activity in foreign exchange and over-the-counter (OTC) derivatives markets continued to increase over the three years to April 2013. The increase in foreign exchange turnover was mostly driven by growth in the United Kingdom. Turnover in Australia declined slightly, even though global turnover of the Australian dollar increased markedly ...
Matthew Brooks +4 more
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Fallacy of moving the OTC derivatives market to CCPs
Journal of Risk Management in Financial Institutions, 2012Recent regulatory efforts, especially in the USA and Europe, are aimed at reducing moral hazard so that the next financial crisis is not bailed out by tax payers. This paper suggests that the regulatory proposals may not remove systemic risk from over-the-counter (OTC) derivatives but rather shift it from banks to central counterparties (CCPs ...
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Three essays on benchmarks, derivatives and OTC markets
2018This dissertation consists of three empirical studies. Collectively, the chapters cover over the-counter(OTC) markets and assess the interactions with centralized exchange-traded markets via benchmarks and financial derivatives. Chapter 1, "The impact of commodity benchmarks on derivatives markets: The case of the Dated Brent assessment and Brent ...
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The OTC interest rate derivatives market in 2013 [PDF]
This feature analyses the market for OTC interest rate derivatives using data from the Triennial Central Bank Survey. Low and stable interest rates after the financial crisis went hand in hand with low but still positive turnover growth in most currencies.
Jacob Gyntelberg, Christian Upper
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