Logo do repositório
 
Publicação

Trading choices

2025-05-01Documento de Trabalho Acesso aberto
Ver registo simples
dc.contributor.authorDyskant, Lucas B.
dc.contributor.authorSilva, André C.
dc.contributor.authorSultanum, Bruno
dc.date.accessioned2025-07-09T17:11:15Z
dc.date.available2025-07-09T17:11:15Z
dc.date.issued2025-05-01
dc.description.abstractWe propose a model of over-the-counter markets based on three trading methods: principal inventory, agency risk-free, and all-to-all (A2A) trading. Principal and agency trading occur through dealers. A2A trading occurs directly through customer-customer trading. The model predicts that A2A size can remain stable while principal and agency trading change. Higher inventory costs shifts trading from principal to agency and decrease dealers’ net positions. Bid-ask spreads can decrease even though transaction costs increase. High transaction costs can lead to multiple equilibria. The model shows how regulatory and technological changes affect trading choices, stability, and market indicators.pt_PT
dc.description.versioninfo:eu-repo/semantics/submittedVersionpt_PT
dc.identifier.citationDyskant, Lucas B., Silva, André C. Trading choices. (May 2025) Nova SBE Working Paper Series No. 675pt_PT
dc.identifier.urihttp://hdl.handle.net/10362/184980
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherNova School of Business and Economicspt_PT
dc.relationUIDB/00124/2020, UIDP/00124/2020, UID/00124pt_PT
dc.relation.ispartofseriesNova SBE Working Paper Series;675
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectover-the-counter marketspt_PT
dc.subjectintermediation costspt_PT
dc.subjectliquiditypt_PT
dc.subjectcorporate bond marketspt_PT
dc.subjectfinancial market regulationspt_PT
dc.subjectpost-2008 regulationspt_PT
dc.subjectVolcker rulept_PT
dc.titleTrading choicespt_PT
dc.typeworking paper
dspace.entity.typePublication
oaire.awardNumberPINFRA/22209/2016
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/Concurso para Financiamento de Projetos de Infraestruturas de Investigação inseridas no Roteiro Nacional de Infraestruturas de Investigação de Interesse Estratégico/PINFRA%2F22209%2F2016/PT
oaire.citation.endPage81pt_PT
oaire.citation.startPage1pt_PT
oaire.fundingStreamConcurso para Financiamento de Projetos de Infraestruturas de Investigação inseridas no Roteiro Nacional de Infraestruturas de Investigação de Interesse Estratégico
person.familyNameSilva
person.familyNameSultanum
person.givenNameAndre
person.givenNameBruno
person.identifier.ciencia-idF413-A5FB-8C42
person.identifier.ciencia-idF316-4F29-9C47
person.identifier.orcid0000-0002-4907-038X
person.identifier.orcid0000-0002-5469-383X
person.identifier.ridF-5279-2014
person.identifier.scopus-author-id24391740800
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.rightsopenAccesspt_PT
rcaap.typeworkingPaperpt_PT
relation.isAuthorOfPublication6421653c-fd86-4041-a5b2-a0119c460345
relation.isAuthorOfPublicatione15344f5-c887-4ac5-8167-07351c563c76
relation.isAuthorOfPublication.latestForDiscovery6421653c-fd86-4041-a5b2-a0119c460345
relation.isProjectOfPublicationa9ff1970-cf85-44cf-86fa-10967bbba64c
relation.isProjectOfPublication.latestForDiscoverya9ff1970-cf85-44cf-86fa-10967bbba64c

Ficheiros

Principais
A mostrar 1 - 1 de 1
Miniatura
Nome:
WP675.pdf
Tamanho:
1.27 MB
Formato:
Adobe Portable Document Format
Ver/Abrir
Licença
A mostrar 1 - 1 de 1
Miniatura indisponível
Nome:
license.txt
Tamanho:
348 B
Formato:
Item-specific license agreed upon to submission
Descrição:
Ver/Abrir

Coleções

NSBE - Working Paper Series