Financial Sector Overview - US-Saudi Arabian Business Council
... Laundering & CounterTerrorist Financing Rules by the CMA ...
... Laundering & CounterTerrorist Financing Rules by the CMA ...
Total Return Swap
... V – Regulatory and Liquidity Issues - Regulation There are restrictions to OTC markets such as the international swap market Registration Requirements ...
... V – Regulatory and Liquidity Issues - Regulation There are restrictions to OTC markets such as the international swap market Registration Requirements ...
Investment Analysis and Portfolio Management
... A mutual fund representing the market portfolio No other assets are required ...
... A mutual fund representing the market portfolio No other assets are required ...
Regulation 10(5)
... f. Rationale, if any, for the proposed transfer Relevant sub-clause of regulation 10(1)(a) under which the acquirer is exempted from making open offer ...
... f. Rationale, if any, for the proposed transfer Relevant sub-clause of regulation 10(1)(a) under which the acquirer is exempted from making open offer ...
Catching a Falling Knife
... The last step to optimizing a hedging plan is the stress test and tail analysis. Generally, the risk analysis will be based on a two standard deviation move in prices based on the historical price distribution. These values represent a reasonable expectation of future prices. The most recent market ...
... The last step to optimizing a hedging plan is the stress test and tail analysis. Generally, the risk analysis will be based on a two standard deviation move in prices based on the historical price distribution. These values represent a reasonable expectation of future prices. The most recent market ...
Commodity markets (overview)
... the filter consists of a system of two equations, the "measurement equation" connecting the observable quantities (e.g., historical futures prices) to the state variables (say, spot price and convenience yield) and the "transition equation" governing the evolution of the state variables. The Kalman ...
... the filter consists of a system of two equations, the "measurement equation" connecting the observable quantities (e.g., historical futures prices) to the state variables (say, spot price and convenience yield) and the "transition equation" governing the evolution of the state variables. The Kalman ...
Highlights of First Quarter 2007 Accomplishments for
... Equities – Even with March’s near 10% rise in the S&P 500, that Index is still down -11% for the year. Despite this recent market upturn, we are still maintaining an underweight to equities until we see additional signs of economic stabilization. In March, we did move to a slight overweight in “valu ...
... Equities – Even with March’s near 10% rise in the S&P 500, that Index is still down -11% for the year. Despite this recent market upturn, we are still maintaining an underweight to equities until we see additional signs of economic stabilization. In March, we did move to a slight overweight in “valu ...
Fourth Quarter 2016
... less regulation and lower taxes. Developed international equities (MSCI EAFE) also rallied 2.0% post-election. With these growth bursts and the anticipation of imminent rising rates, the bond market took a hit of 2.3% 2. We will discuss this further later in this report. Growth expectations based on ...
... less regulation and lower taxes. Developed international equities (MSCI EAFE) also rallied 2.0% post-election. With these growth bursts and the anticipation of imminent rising rates, the bond market took a hit of 2.3% 2. We will discuss this further later in this report. Growth expectations based on ...
Securities Trading of Concepts (STOC)
... 1992, Calder 1977, Fern 1982). However, concept markets may be a useful alternative to these methods for several reasons: 1. Accuracy: In order to win the game, participants have the incentive to trade according to the best, most up-to-date knowledge because of their financial stake in the market. S ...
... 1992, Calder 1977, Fern 1982). However, concept markets may be a useful alternative to these methods for several reasons: 1. Accuracy: In order to win the game, participants have the incentive to trade according to the best, most up-to-date knowledge because of their financial stake in the market. S ...
ASIC CLASS ORDER [CO xx/xxx]
... part of the regulatory framework for competition between exchange markets. The ASIC Market Integrity Rules (Competition) apply to a Participant or a Market on or through which offers to acquire or dispose of certain financial products, including Equity Market Products (as defined in Rule 1.4.3), are ...
... part of the regulatory framework for competition between exchange markets. The ASIC Market Integrity Rules (Competition) apply to a Participant or a Market on or through which offers to acquire or dispose of certain financial products, including Equity Market Products (as defined in Rule 1.4.3), are ...
Instructions Double-Oral Auction Market Experiment, Fall 2004
... offers to sell. Each trading period will last for three minutes. When a BUYER and a SELLER have agreed on a price, they should proceed to the black board and have the instructor record the transaction. They should then stand aside and await the start of the next trading period. ...
... offers to sell. Each trading period will last for three minutes. When a BUYER and a SELLER have agreed on a price, they should proceed to the black board and have the instructor record the transaction. They should then stand aside and await the start of the next trading period. ...
Market Coupling: Key to EU Power Market
... Market coupling is a way of using existing cross capacity efficiently and of creating regional energy markets. Our Expert Panel believe that coupling is a necessary but not sufficient condition for reducing congestion. It works best where there is a day-ahead power exchange but it is no substitute f ...
... Market coupling is a way of using existing cross capacity efficiently and of creating regional energy markets. Our Expert Panel believe that coupling is a necessary but not sufficient condition for reducing congestion. It works best where there is a day-ahead power exchange but it is no substitute f ...
THE BEST OF THE VALIDEA HOT LIST – 2010
... falling 14.7% in a three-and-a-half-month span. Then came Leg #2 of the bull, which featured several minor dips but ended up taking the S&P up more than 95% over the next four-and-a-half years. This is a lot of data, but it all boils down to this: Bull markets aren't smooth and easy. In fact, every ...
... falling 14.7% in a three-and-a-half-month span. Then came Leg #2 of the bull, which featured several minor dips but ended up taking the S&P up more than 95% over the next four-and-a-half years. This is a lot of data, but it all boils down to this: Bull markets aren't smooth and easy. In fact, every ...
Law for Business
... Typical terms: low rate for 1, 2 or 5 years, then an adjustment to a spread over a common floating rate Example: 2% for 5 years, then LIBOR + 2.5% Rate may be capped Discounted rate in early years is paid for by accepting risk of rising rates in later years Interesting if you plan to move within a f ...
... Typical terms: low rate for 1, 2 or 5 years, then an adjustment to a spread over a common floating rate Example: 2% for 5 years, then LIBOR + 2.5% Rate may be capped Discounted rate in early years is paid for by accepting risk of rising rates in later years Interesting if you plan to move within a f ...
economics on one page
... 2. Economic growth: The key to a higher standard of living is production, to expand savings, capital formation, education, and technology. 3. Trade: In all voluntary exchanges, where accurate information is known, both the buyer and seller gain; therefore, an increase in trade between individuals, g ...
... 2. Economic growth: The key to a higher standard of living is production, to expand savings, capital formation, education, and technology. 3. Trade: In all voluntary exchanges, where accurate information is known, both the buyer and seller gain; therefore, an increase in trade between individuals, g ...
2010 Flash Crash
The May 6, 2010, Flash Crash also known as The Crash of 2:45, the 2010 Flash Crash or simply the Flash Crash, was a United States trillion-dollar stock market crash, which started at 2:32 and lasted for approximately 36 minutes. Stock indexes, such as the S&P 500, Dow Jones Industrial Average and Nasdaq 100, collapsed and rebounded very rapidly.The Dow Jones Industrial Average had its biggest intraday point drop (from the opening) up to that point, plunging 998.5 points (about 9%), most within minutes, only to recover a large part of the loss. It was also the second-largest intraday point swing (difference between intraday high and intraday low) up to that point, at 1,010.14 points. The prices of stocks, stock index futures, options and ETFs were volatile, thus trading volume spiked. A CFTC 2014 report described it as one of the most turbulent periods in the history of financial markets.On April 21, 2015, nearly five years after the incident, the U.S. Department of Justice laid ""22 criminal counts, including fraud and market manipulation"" against Navinder Singh Sarao, a trader. Among the charges included was the use of spoofing algorithms; just prior to the Flash Crash, he placed thousands of E-mini S&P 500 stock index futures contracts which he planned on canceling later. These orders amounting to about ""$200 million worth of bets that the market would fall"" were ""replaced or modified 19,000 times"" before they were canceled. Spoofing, layering and front-running are now banned.The Commodity Futures Trading Commission (CFTC) investigation concluded that Sarao ""was at least significantly responsible for the order imbalances"" in the derivatives market which affected stock markets and exacerbated the flash crash. Sarao began his alleged market manipulation in 2009 with commercially available trading software whose code he modified ""so he could rapidly place and cancel orders automatically."" Traders Magazine journalist, John Bates, argued that blaming a 36-year-old small-time trader who worked from his parents' modest stucco house in suburban west London for sparking a trillion-dollar stock market crash is a little bit like blaming lightning for starting a fire"" and that the investigation was lengthened because regulators used ""bicycles to try and catch Ferraris."" Furthermore, he concluded that by April 2015, traders can still manipulate and impact markets in spite of regulators and banks' new, improved monitoring of automated trade systems.As recently as May 2014, a CFTC report concluded that high-frequency traders ""did not cause the Flash Crash, but contributed to it by demanding immediacy ahead of other market participants.""Recent research shows that Flash Crashes are not isolated occurrences, but have occurred quite often over the past century. For instance, Irene Aldridge, the author of High-Frequency Trading: A Practical Guide to Algorithmic Strategies and Trading Systems, 2nd ed., Wiley & Sons, shows that Flash Crashes have been frequent and their causes predictable in market microstructure analysis.