scholarly journals Valuation Efficiency of Secondary Markets for Formerly Illiquid Assets: The Case of German KG Ship Funds

2016 ◽  
Vol 20 (2) ◽  
pp. 127-179 ◽  
Author(s):  
André Küster Simic ◽  
◽  
Philipp Lauenstein ◽  
Stefan Prigge ◽  
◽  
...  
Keyword(s):  
Secondary Markets ◽  
Illiquid Assets

FCA discussion paper on open-ended funds and illiquidity

2017 ◽  
Vol 18 (4) ◽  
pp. 67-71 ◽  
Author(s):  
Panos Katsambas ◽  
Chu Ting Ng
Keyword(s):  
Design Methodology ◽  
Discussion Paper ◽  
Management Tools ◽  
Investment Funds ◽  
Liquidity Management ◽  
Secondary Markets ◽  
Content Type ◽  
Retail Investors ◽  
The Uk ◽  
Illiquid Assets

Purpose To explore the issues and questions put forward for consideration by stakeholders by the UK Financial Conduct Authority (FCA) in its discussion paper dated February 2017 – the purpose of which was to gather stakeholders’ views on illiquid assets and open-ended investment funds and seek to provide a basis for debate by setting out several policies for FCA intervention. Design/methodology/approach Explains and discusses the potential consequences of each issue and question put forward by the FCA, including definitions of illiquid assets, liquidity management tools, treatment of professional and retail investors, portfolio restrictions and liquidity buffers, valuation of illiquid assets, direct intervention by the FCA, enhanced disclosure, and secondary markets for illiquid assets. Findings What was found in the course of the work? The decision to suspend redemptions by these large property funds has brought to the forefront the key question of whether real estate or other illiquid assets are appropriate for open-ended funds. Many questions and considerations remain as to what impact the FCA’s proposed changes could have on the industry. The FCA consultation closed on 8 May 2017 and the results could determine new and adapted rules. Originality/value Practical guidance from experienced funds lawyers.

Fagin's Coin of Truth: Economic Belief and Representation inOliver Twist

2014 ◽  
Vol 4 (2) ◽  
pp. 122-138
Author(s):  
Keith Clavin
Keyword(s):  
Middle Class ◽  
Economic Value ◽  
Central Feature ◽  
Secondary Markets ◽  
Jewish Culture

This essay examines Fagin from Oliver Twist as a villain whose construction joins Victorian anxieties about counterfeiting and economic deceptiveness with separate yet related concerns about the author's role in representing criminal life. Dickens triangulates Fagin's identity through cultural fears about Jewish participation within secondary markets, increased distance between purchaser and seller in an expanding credit economy, and moral ambiguities in respect to fiction-making. Read against non-literary Victorian writing about counterfeiters and crime, Fagin can be understood as a forger of identities and narratives. His ability to exploit interpersonal belief and economic value is a central feature of his villainy and one with precedent in other aspects of Victorian financial life. Dickens critiques capitalist culture by associating it with the imitative, fictional, and Jewish culture. In contrast, he aligns sincerity and truth with the middle-class, normative characters. Throughout, he marks the distinction between these two groups with comic incidence. The marginalised figures are fodder for humour and irony, while the conventional heroes are earnest.

FUNCTIONING OF THE EXCHANGE MARKET UNDER THE INFLUENCE OF THE DIGITALIZATION OF THE ECONOMY

2020 ◽  
Vol 2 (11) ◽  
pp. 96-101
Author(s):  
B. А. DEMILKHANOVA ◽  
Keyword(s):  
Stock Market ◽  
Financial Stability ◽  
Technological Development ◽  
Digital Technologies ◽  
Securities Market ◽  
Exchange Market ◽  
Large Circle ◽  
Secondary Markets ◽  
Leading Role ◽  
International Stock Markets

In the article, from the standpoint of reasons and necessity, the qualitative and quantitative characteristics of the key trends in the development of the stock market in Russia are disclosed. The leading role is assigned to the processes of computerization of the exchange market: the introduction and use of digital technologies that ensure the financial stability of the financial market as a whole, its security and transparency, as well as access of a large circle of investors to banking and financial operations, and the protection of their interests. It has been established that the processes of introducing and using digital technologies, organically built into the mechanism of the functioning of the securities market as a whole, determine the directions of development of such trends as innovations, diversification of stock market instruments, securitization, integration with international stock markets, etc. key trends influenced by the technological development of the stock market, lead to blurring the boundaries between the primary and secondary markets.

scholarly journals Buying from Secondary Markets: Acquiring Dollars and Sense

2011 ◽  
Vol 28 (2) ◽  
pp. 121-131 ◽  
Author(s):  
Julie Mosbo ◽  
John Ballestro
Keyword(s):  
Secondary Markets

On Pricing of Spectrum in Secondary Markets

2007 ◽  
Author(s):  
Ashraf Al Daoud ◽  
Murat Alanyali ◽  
David Starobinski
Keyword(s):  
Secondary Markets
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