The Microstructure of European Bond Markets

The Microstructure of European Bond Markets

Author: Volker Flögel

Publisher: Deutscher Universitätsverlag

Published: 2006-08-25

Total Pages: 142

ISBN-13: 9783835004238

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Based on unique datasets for German federal securities, EMU government bonds and Euro corporate bonds Volker Flögel analyzes the distinctive features of multiple dealer markets in general and bond markets in particular. He focuses on the organizational structure of the market for German federal securities, the interaction between the interdealer and the customer-dealer market for EMU government bonds, and the cost of liquidity for Euro corporate bonds.


The Microstructure of European Bond Markets

The Microstructure of European Bond Markets

Author: Volker Flögel

Publisher: Springer Science & Business Media

Published: 2008-05-09

Total Pages: 153

ISBN-13: 3835092685

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Based on unique datasets for German federal securities, EMU government bonds and Euro corporate bonds Volker Flögel analyzes the distinctive features of multiple dealer markets in general and bond markets in particular. He focuses on the organizational structure of the market for German federal securities, the interaction between the interdealer and the customer-dealer market for EMU government bonds, and the cost of liquidity for Euro corporate bonds.


The Microstructure of Government Securities Markets

The Microstructure of Government Securities Markets

Author: Mr.Peter Dattels

Publisher: International Monetary Fund

Published: 1995-11

Total Pages: 106

ISBN-13:

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This paper applies the “market microstructure” literature to the specific features of government securities markets and draws implications for the strategy to develop government securities markets. It argues for an active role of the authorities in fostering the development of efficient market structures.


Europe's Hidden Capital Markets

Europe's Hidden Capital Markets

Author: Jean-Pierre Casey

Publisher: CEPS

Published: 2005

Total Pages: 142

ISBN-13: 9290795964

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Assessing regulatory measures taken at the EU level that impact European bond markets, this book examines the desirability, utility, and feasibility of certain policy measures.


Technology and Finance

Technology and Finance

Author: Morten Balling

Publisher: Psychology Press

Published: 2003

Total Pages: 387

ISBN-13: 041529827X

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Technology has important implications for the earnings, cost, risks, competitiveness and location of financial institutions. In this work, leading international scholars discuss how financial supervision and regulation must be adapted to the new risks and new risk management methods.


Primary Dealers in Government Securities

Primary Dealers in Government Securities

Author: Mr.Marco Arnone

Publisher: International Monetary Fund

Published: 2005-02-25

Total Pages: 104

ISBN-13: 9781589063792

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In the past 10 years a growing number of countries have established or began establishing a primary dealer system. This paper discusses the role of primary dealers, as well as theoretical, operational, and technical issues related to the establishment of a primary dealer system, in the overall management of public debt for countries that may be considering taking this step. Drawing on a 2001 survey of country practices, the paper discusses the rationale, costs and benefits, and key prerequisites, as well as selection criteria, obligations, and privileges of a primary dealer system. It also attempts to determine the conditions under which a primary dealer system would make a positive contribution to the functioning and development of the government securities market.


Primary Dealers in Government Securities

Primary Dealers in Government Securities

Author: Mr.Marco Arnone

Publisher: International Monetary Fund

Published: 2003-03-01

Total Pages: 66

ISBN-13: 1451846495

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In many countries, authorities have designated a group of financial firms as the principal intermediaries in the government securities market-referred to as "primary dealers" or a "primary dealer system." This paper discusses policy issues related to the establishment of a primary dealer system for countries that may be considering taking this step. In this regard, a key issue is whether a primary dealer system fits into the overall strategy for financial market development in the country. Under a primary dealer system, the debt manager and the group of primary dealers pursue a common strategy in support of the effective functioning and development of primary and secondary markets for government securities. This paper presents results of a survey of country practices conducted in early 2001. Among the countries surveyed, there was broad agreement among authorities that a primary dealer system is to be highly recommended.