Author: Zach Bethune

Darrell Duffie presenting on July 13, 2020

Paper Title: Augmenting Markets with Mechanisms Zoom Registration Abstract: We explain how the common practice of size-discovery trade detracts from overall financial market efficiency. At each of a series of size-discovery sessions, traders report their desired trades, generating allocations of the asset and cash that rely on the most recent exchange price. Traders can thus […]

Burton Hollifield presenting on June 29, 2020

Paper: “Volume and Intermediation in Corporate Bond Markets” joint with Artem Neklyudov and Chester Spatt Slides and Zoom Registration Abstract: Size-reporting of trades in corporate bonds is capped when the trade volume is above $1 million for high-yield bonds and above $5 million for investment grade bonds. We use a regulatory sample of trades, masked […]