Liquidity
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ISLA ‘Unconvinced’ that Haircut Levels a ‘Material Contributor’ to the Financial Crisis
By Maddie Saghir
April 16, 2018, Securities Lending Times
The International Securities Lending Association (ISLA) said it was “unconvinced that haircut levels were a material contributor to the financial crisis,” …
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LCH-JSCC Basis Drops as Hedge Funds Arrive
By Chris Davis
April 15, 2018, Risk
A surge in client clearing at the Japan Securities Clearing Corporation is cutting the price difference that exists for yen interest rate swaps …
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U.S. Swap Rate Failed During Volatility Rout
By Robert Mackenzie Smith
April 9, 2018, Risk
Liquidity in the electronically traded U.S. dollar interest rate swap market was so sparse during the bout of equity volatility on February …
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Bridge to Nowhere: Gaps in Treasury G-SIB Bankruptcy Plan
By Joanna Wright
April 10, 2018, Risk
When a bank is threatened with insolvency, it also becomes illiquid as creditors flee. When a systemic bank becomes insolvent, the critical services …
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ECB Weighs Emergency Cash Injections to Smooth Bank Rescues
By Alexander Weberr and Alessandro Speciale
April 9, 2018, Bloomberg Markets
The European Central Bank is considering a new policy tool that would allow it to inject cash into banks …
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MiFID II Could Boost E-Trading in Corporates
By John D’Antona
April 9, 2018, Markets Media
Many traders and pundits saw implementation of MiFID II as a watershed moment in the equities markets. But what about the growing …
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Fund Industry Defends Bond ETFs to U.S. Regulators
By Trevor Hunnicutt
April 9, 2018, Reuters
A fund industry trade group representative on Monday disputed the idea that bond exchange traded funds (ETFs) might fail to hold up under …
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Asset Managers Back U.S. Plan to Limit Stock Exchange Rebates
By John McCrank
April 9, 2018, Reuters
Financial firms representing more than $1 trillion in assets under management have endorsed a U.S. regulator’s plan to test limiting the rebates and …
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Liquidity Pressures Easing in Corporates
By John D’Antona
April 6, 2018, Markets Media
Liquidity constraints are finally lifting somewhat in the corporate bond market. At least for smaller trades.
Approximately three-quarters of the institutional investors …
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Living in the Laboratory: Understanding the SEC’s Transaction Fee Pilot
By George Bollenbacher, Capital Markets Advisors
Originally published on the TabbFORUM
What has become clear is that almost nothing is clear about how fees and rebates impact both execution decision-making …
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