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- Publisher Website: 10.1016/j.red.2020.07.003
- Scopus: eid_2-s2.0-85088969252
- WOS: WOS:000605135500010
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Article: Inter-dealer Trades in OTC Markets – Who Buys and Who Sells?
Title | Inter-dealer Trades in OTC Markets – Who Buys and Who Sells? |
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Authors | |
Keywords | OTC market Inter-dealer trades Dealers' inventories |
Issue Date | 2021 |
Publisher | Academic Press. The Journal's web site is located at http://www.elsevier.com/locate/red |
Citation | Review of Economic Dynamics, 2021, v. 39, p. 220-257 How to Cite? |
Abstract | In an OTC market where dealers' inventory capacities differ, dealers trade among themselves to rebalance inventories for facilitating the sale and purchase of the asset to and from their investor clients. In a market where the asset is sold quickly, the small-capacity dealers sell to the large-capacity dealers to help them replenish their inventories. Conversely, in a slow market where it takes a relatively long time for the asset to be sold, the small-capacity dealers buy from the large-capacity dealers to help them free up inventory capacities. The prediction, though counterintuitive, is supported by some available empirical evidence. |
Persistent Identifier | http://hdl.handle.net/10722/294561 |
ISSN | 2023 Impact Factor: 2.3 2023 SCImago Journal Rankings: 3.582 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Tse, CY | - |
dc.contributor.author | Xu, Y | - |
dc.date.accessioned | 2020-12-08T07:38:43Z | - |
dc.date.available | 2020-12-08T07:38:43Z | - |
dc.date.issued | 2021 | - |
dc.identifier.citation | Review of Economic Dynamics, 2021, v. 39, p. 220-257 | - |
dc.identifier.issn | 1094-2025 | - |
dc.identifier.uri | http://hdl.handle.net/10722/294561 | - |
dc.description.abstract | In an OTC market where dealers' inventory capacities differ, dealers trade among themselves to rebalance inventories for facilitating the sale and purchase of the asset to and from their investor clients. In a market where the asset is sold quickly, the small-capacity dealers sell to the large-capacity dealers to help them replenish their inventories. Conversely, in a slow market where it takes a relatively long time for the asset to be sold, the small-capacity dealers buy from the large-capacity dealers to help them free up inventory capacities. The prediction, though counterintuitive, is supported by some available empirical evidence. | - |
dc.language | eng | - |
dc.publisher | Academic Press. The Journal's web site is located at http://www.elsevier.com/locate/red | - |
dc.relation.ispartof | Review of Economic Dynamics | - |
dc.subject | OTC market | - |
dc.subject | Inter-dealer trades | - |
dc.subject | Dealers' inventories | - |
dc.title | Inter-dealer Trades in OTC Markets – Who Buys and Who Sells? | - |
dc.type | Article | - |
dc.identifier.email | Tse, CY: cytse@hkucc.hku.hk | - |
dc.identifier.email | Xu, Y: yujingxu@hku.hk | - |
dc.identifier.authority | Tse, CY=rp01099 | - |
dc.identifier.authority | Xu, Y=rp01947 | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/j.red.2020.07.003 | - |
dc.identifier.scopus | eid_2-s2.0-85088969252 | - |
dc.identifier.hkuros | 320405 | - |
dc.identifier.volume | 39 | - |
dc.identifier.spage | 220 | - |
dc.identifier.epage | 257 | - |
dc.identifier.isi | WOS:000605135500010 | - |
dc.publisher.place | United States | - |