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 82x       Filetype PDF       File size 0.92 MB       Source: www.ecb.europa.eu


File: Ecwp2529~aeen
Working Paper Series Jean-Edouard Colliard, Thierry Foucault, Inventory management, Peter Hoffmann dealers’ connections, and prices in OTC markets No 2529 / February 2021 Disclaimer: This paper should not be reported ...

icon picture PDF Filetype PDF | Posted on 07 Feb 2023 | 2 years ago
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...Working paper series jean edouard colliard thierry foucault inventory management peter hoffmann dealers connections and prices in otc markets no february disclaimer this should not be reported as representing the views of european central bank ecb expressed are those authors do necessarily reflect abstract we propose a new model trading accumulate inven tories by with end investors trade among each other to reduce their holding costs core use more ecient technology than peripheral who het erogeneously connected bilaterally connectedness aects allocations if only aggregate position diers from zero price dispersion increases size generates predictions about eects inventories on keywords interdealer jel codes g nontechnical summary many important financial assets e bonds derivatives currencies decentralized often referred overthecounter these play key role because they intermediate trades between endinvestors so substantial ficant positions costly hold wellknown have signi bearing market ...
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