Money and Payments Workshop

October 19, 2012
9:00 a.m. Breakfast
9:20 a.m. Opening Remarks
9:30 a.m. Clearing with Two-Sided Limited Commitment
Cyril Monnet, University of Berne and Thomas Nellen, Swiss National Bank
10:20 a.m. Central Counterparty Clearing: Incentives, Market Discipline and the Cost of Collateral PDF
Thorsten Koeppl, Queen's University
11:10 a.m. Coffee Break
11:40 a.m. Information-Insensitive Securities: The Benefits of Central Counterparties PDF
Francesca Carapella, Federal Reserve Board and David Mills, Federal Reserve Board
12:30 p.m. Lunch
1:30 p.m. Click or Call? Auction versus Search in the Over-the-Counter Market offsite PDF
Terrence Hendershott, UC Berkeley Haas and Ananth Madhavan, BlackRock
2:20 p.m. Dealer Networks PDF
Dan Li, Federal Reserve Board and Norman Schürhoff, University of Lausanne
3:10 p.m. Coffee Break
3:40 p.m. Do Dark Pools Harm Price Discovery? PDF
Haoxiang Zhu, MIT Sloan
4:30 p.m. Reception
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