Publications and Research

2001 conference

Financial Market Structure and Dynamics

Proceedings of a conference held by the Bank of Canada, November 2001

Opening Remarks
Ron Parker

Session 1:
Financial Market Structure

The Microstructure of Multiple-Dealer Equity and Government Securities Markets: How They Differ (PDF)
Toni Gravelle

Discussion: (PDF)
Jos R. Heuvelman

General Discussion (PDF)

Optimal Market Structure: Does One Shoe Fit All? (PDF)
Nicolas Audet, Toni Gravelle, and Jing Yang

Discussion: (PDF)
Blake LeBaron

General Discussion (PDF)

The Development of Alternative Trading Systems in the U.K. Gilts Market: Lessons and Implications (PDF)
Allison Holland

Discussion: (PDF)
Charles Gaa

General Discussion (PDF)

Liquidity, Transactions Costs, and Reintermediation in Electronic Markets (PDF)
Ian Domowitz

Discussion: (PDF)
Peter Thurlow

General Discussion (PDF)

Should Securities Markets Be Transparent? (PDF)
Ananth Madhavan, David Porter, and Daniel Weaver

Discussion: (PDF)
Robert White

General Discussion (PDF)

The Effects of Bank Consolidation on Risk Capital Allocation and Market Liquidity (PDF)
Chris D'Souza and Alexandra Lai

Discussion: (PDF)
Gerald Goldstein

General Discussion (PDF)

Session 2:
Asset-Price Dynamics

Detecting Shift Contagion in Currency and Bond Markets (PDF)
Toni Gravelle, Maral Kichian, and James Morley

Discussion: (PDF)
Shafiq K. Ebrahim

General Discussion (PDF)

Price Discovery in a Market Under Stress: The U.S. Treasury Market in Autumn 1998 (PDF)
Craig H. Furfine and Eli M. Remolona

Discussion: (PDF)
Asani Sarkar

General Discussion (PDF)

Portfolio Balance, Price Impact, and Secret Intervention (PDF)
Martin D. D. Evans and Richard K. Lyons

Discussion: (PDF)
Chris D'Souza

General Discussion (PDF)

Panel Discussion

Discussion 1:
John Chant

Discussion 2:
Dino Kos

Discussion 3:
Richard K. Lyons

The Participants