The Effect of the Establishment of the Day Clearing Branch on Trading Costs: A Look at the NYSE In 1920
As a financial institution that clears and settles payments for equity and other securities, a clearinghouse essentially reduces the counterparty risk. It diminishes the risk of one party failing to meet its obligations, and makes markets more efficient through netting. This paper examines the impac...
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| Format: | Others |
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Scholarship @ Claremont
2012
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| Online Access: | http://scholarship.claremont.edu/cmc_theses/689 http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=1563&context=cmc_theses |