Dark Markets: Asset Pricing and Information Transmission in Over-The-Counter Markets

by Darrell Duffie

Over-the-counter (OTC) markets for derivatives, collateralized debt obligations, and repurchase agreements played a significant role in the global financial crisis. Rather than being traded through a centralized institution such as a stock exchange, OTC trades are negotiated privately between market participants who may be unaware of prices that are currently available elsewhere in the market. In these relatively opaque markets, investors can be in...

• Format: Hardcover
• Language: English
• ISBN: 0691138966
• ISBN13: 9780691138961
• Release Date: January 2012
• Publisher: Princeton University Press
• Length: 128 Pages
• Weight: 0.70 lbs.
• Dimensions: 0.6" x 6.4" x 9.3"