Constructing the Market for Credit Derivatives: How Major Investment Banks Handle Ambiguities

Isabelle Huault and Hélène Rainelli-Weiss

Chapter 10 in Finance: The Discreet Regulator, 2012, pp 233-260 from Palgrave Macmillan

Abstract: Abstract What relationship is there between the highly modern financial market for credit derivatives and the auction sale of a prized Kansas dairy cow? Although both involve some form of economic behaviour, the old-fashioned, if not exotic, ritual of auctions seems to be at odds with the style of transactions on one of the most modern and sophisticated derivatives markets. However, appearances can sometimes be deceptive.

Keywords: Financial Market; Mutual Fund; Credit Risk; Hedge Fund; Credit Default Swap (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-03360-4_11

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DOI: 10.1057/9781137033604_11

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