What is the relation between central clearing and counterparty risk? Intuitively, it seems clear that a central clearing counterparty (CCP) improves the netting mechanism. With bilateral clearing, two trading partners can only net with one another. With central clearing, the… Continue Reading →
Why the discussion about central clearing of credit default swap (CDS) contracts? For one thing, central clearing increases transparency. Once transactions have to go through a central clearing counterparty (CCP), the regulator can simply monitor the CCP to get an… Continue Reading →
In a previous post, we discussed an article than analyzes the impact of TV news on stock prices. Today, we consider a different form of information dissemination: Direct-Access Information Technology (DAIT) such as press releases through Twitter, RSS feeds, e-mail,… Continue Reading →
In a previous post, we discussed whether female fund managers differ from male managers with regard to performance and risk. The answer we gave: they don’t!
Can television news affect stock prices? And does the price impact of tv news depend on who presents the news? Both of these effects would contradict the Efficient Market Hypothesis (EMH). Put simply, the EMH states that security prices immediately… Continue Reading →
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