This paper examines the impact of central clearing on the credit default swap (CDS) market
using a sample of voluntarily cleared single-name contracts. Consistent with central clearing …

This paper examines transaction costs and liquidity in the index CDS market by matching
intraday quotes to real-time trade reports made available through the Dodd-Frank reforms. We …

This paper investigates whether and how the initiation of Credit Default Swaps (CDS) trading
affects analyst forecast optimism. First, we document that the initiation of CDS trading curbs …

We use the advent of new credit default swap (CDS) trading conventions in April 2009—the
CDS Big Bang—to study how a shock to funding liquidity impacts market liquidity. After the …

Mini options are specially catered to retail investors with limited capital for trading options on
extremely high-priced securities. The coexistence of both Mini and standard options for the …

We address questions about Chapter 11 stocks regarding their trading environment,
fundamental value, and performance. First, there exists active trading for Chapter 11 stocks …

This paper examines the role of corporate social performance in the CDS market, with a
focus on the differential effect conditional on the lengths of time horizons. We find that firm’s …

We examine the effects of dealers’ inventories on the pricing and liquidity of OTC derivatives
markets. Using position and pricing data on credit default swap (CDS) indices, we …

The CDS Big Bang introduced two standard coupons for CDS trading. We exploit the setting
of the two standard coupons as a natural experiment to quantify the components of the bid–…

We augment a simple inventory model with new features of the post-crisis regulations to
offer new predictions on the effects of post-crisis regulations on the over-the-counter markets. …