Secondary market liquidity in domestic debt markets: Key policy conclusions

The Tenth OECD/World Bank/IMF Annual Global Bond Market Forum highlighted that liquidity is a complex concept with different dimensions - micro liquidity vs. macro liquidity, market liquidity vs. funding liquidity, endogenous vs. exogenous liquidity, and so on. Relative liquidity (including 'li...

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Bibliographic Details
Main Author: Blommestein, Hans J.. (Author)
Other Authors: Harwood, Alison (Contributor), Anderson, Philipp (Contributor), Pazarbasioglu, Ceyla (Contributor)
Format: Electronic Article
Language:English
Published: Paris OECD Publishing 2009
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Online Access:DE-862
DE-863
Summary:The Tenth OECD/World Bank/IMF Annual Global Bond Market Forum highlighted that liquidity is a complex concept with different dimensions - micro liquidity vs. macro liquidity, market liquidity vs. funding liquidity, endogenous vs. exogenous liquidity, and so on. Relative liquidity (including 'liquidity freezes or squeezes') can best be explained by focusing on the market's institutional structure, in particular the architecture of electronic trading platforms, the importance of OTC trading, the nature and width of the investor base, disclosure requirements, valuation methods, the role of primary dealers including market-making requirements or conventions, tax factors, and the role of issuers of government bonds and other fixed-income instruments in primary and secondary markets.
Physical Description:1 Online-Ressource (11 Seiten)

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