Centralized Trading, Transparency, and Interest Rate Swap Market Liquidity: Evidence from the Implementation of the Dodd–Frank Act
(2018)
Journal Article
Benos, E., Payne, R., & Vasios, M. (2020). Centralized Trading, Transparency, and Interest Rate Swap Market Liquidity: Evidence from the Implementation of the Dodd–Frank Act. Journal of Financial and Quantitative Analysis, 55(1), 159-192. https://doi.org/10.1017/S0022109018001527
We use proprietary transaction data on interest rate swaps to assess the effects of centralized trading, as mandated by Dodd-Frank, on market quality. Contracts with the most extensive centralized trading see liquidity metrics improve by between 12%... Read More about Centralized Trading, Transparency, and Interest Rate Swap Market Liquidity: Evidence from the Implementation of the Dodd–Frank Act.