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The Determinants of Credit Spread Changes.

by Pierre Collin-Dufresne , Robert S Goldstein , J Spencer Martin , Gurdip Bakshi , Greg Bauer , Dave Brown , Francesca Carrieri , Peter Christoffersen , Susan Christoffersen , Greg Duffee , Darrell Duffie , Vihang Errunza , Gifford Fong , Mike Gallmeyer , Laurent Gauthier , Rick Green , John Griffin , Jean Helwege , Kris Jacobs , Chris Jones , Andrew Karolyi , Dilip Madan , David Mauer , Erwan Morellec , Federico Nardari , N R Prabhala , Tony Sanders , Sergei Sarkissian , Bill Schwert , Ken Singleton , Chester Spatt , René Stulz - Journal of Finance , 2001
"... ABSTRACT Using dealer's quotes and transactions prices on straight industrial bonds, we investigate the determinants of credit spread changes. Variables that should in theory determine credit spread changes have rather limited explanatory power. Further, the residuals from this regression are ..."
Abstract - Cited by 422 (2 self) - Add to MetaCart
in the corporate bond market is driven by local supply/demand shocks that are independent of both changes in credit-risk and typical measures of liquidity. We note that a similar, but significantly smaller effect has been documented in the mortgage backed (Ginnie Mae) securities market by Boudoukh, Richardson

unknown title

by unknown authors
"... 3 The proposed rule change is similar to a rule change approved by the Commission in 2003 that allowed the National Securities Clearing Corporation (‘‘NSCC’’) to accommodate the reporting of trades executed on a system that provides trading anonymity. Securities Exchange ..."
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3 The proposed rule change is similar to a rule change approved by the Commission in 2003 that allowed the National Securities Clearing Corporation (‘‘NSCC’’) to accommodate the reporting of trades executed on a system that provides trading anonymity. Securities Exchange

Integrating Flexible Support for Security Policies into the Linux Operating System

by Peter Loscocco, Stephen Smalley
"... The protection mechanisms of current mainstream operating systems are inadequate to support confidentiality and integrity requirements for end systems. Mandatory access control (MAC) is needed to address such requirements, but the limitations of traditional MAC have inhibited its adoption into mains ..."
Abstract - Cited by 312 (9 self) - Add to MetaCart
into mainstream operating systems. The National Security Agency (NSA) worked with Secure Computing Corporation (SCC) to develop a flexible MAC architecture called Flask to overcome the limitations of traditional MAC. The NSA has implemented this architecture in the Linux operating system, producing a Security

Interest Rate Derivatives Trade Repository by

by Clearing Relationships, Matter Craig Donner, Steve Letzler, Bari Trontz
"... National Securities Clearing Corporation (NSCC) has launched a new automated system for broker/dealers to electronically establish, monitor and update their relationships with Qualified Special Representatives (QSR) and correspondent clearing partners. These relationships allow NSCC to ensure that a ..."
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National Securities Clearing Corporation (NSCC) has launched a new automated system for broker/dealers to electronically establish, monitor and update their relationships with Qualified Special Representatives (QSR) and correspondent clearing partners. These relationships allow NSCC to ensure

PREFACE Interactive Messaging for Real-time Reporting of Municipal Securities Transactions

by unknown authors
"... This document provides an overview of interactive messaging that is used with the Municipal Securities Rulemaking Board’s (MSRB) Real-time Transaction Reporting System (RTRS). Its main purpose is to provide the required detailed input and output specifications for messages to support regulatory repo ..."
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) that has been implemented by the National Securities Clearing Corporation (NSCC).3 The use of NSCC telecommunication facilities as data collection points or “portals ” for transaction data and the use of a standard common format for trade reporting and automated comparison through NSCC provide a straight

Competition and the Rationalisation of European Securities Clearing and Settlement

by Alistair Milne , 2002
"... How can competitive forces be harnessed to promote rationalisation of European securities settlement and create a single European market for the issue and trading of securities? This can be achieved through access price regulation of book transfer and the communication of instructions for corporate ..."
Abstract - Cited by 8 (0 self) - Add to MetaCart
How can competitive forces be harnessed to promote rationalisation of European securities settlement and create a single European market for the issue and trading of securities? This can be achieved through access price regulation of book transfer and the communication of instructions for corporate

OVERVIEW OVERVIEW

by Interactive Messaging, Real-time Matching, Nscc Fixed, Income Products
"... This document provides an overview of interactive messaging for Real-Time Trade Matching (RTTM) for the fixed income products of the National Securities Clearing Corporation (NSCC). Its main purpose is to provide the required detailed input and output specifications for messages that will be used to ..."
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This document provides an overview of interactive messaging for Real-Time Trade Matching (RTTM) for the fixed income products of the National Securities Clearing Corporation (NSCC). Its main purpose is to provide the required detailed input and output specifications for messages that will be used

Data mining, national security, privacy and civil liberties

by Bhavani Thuraisingham - SIGKDD Explorations , 2002
"... (On Leave from the MITRE Corporation, ..."
Abstract - Cited by 15 (2 self) - Add to MetaCart
(On Leave from the MITRE Corporation,

The state of U.S. corporate governance: What’s right and what’s wrong?, Working paper 9613, National Bureau of Economic Research

by Bengt Holmstrom, Steven N. Kaplan, Warren Batts, Don Chew, Art Kelly, Rick Melcher, Andrew Nussbaum, Per Stromberg , 2003
"... The U.S. corporate governance system has recently been heavily criticized, largely as a result of failures at Enron, WorldCom, Tyco and some other prominent companies. Those failures and criticisms, in turn, have served as catalysts for legislative change (Sarbanes-Oxley Act of 2002) and regulatory ..."
Abstract - Cited by 83 (5 self) - Add to MetaCart
change (new governance guidelines from the NYSE and NASDAQ). In this paper, we consider two questions. First, is it clear that the U.S. system has performed that poorly; is it really that bad? Second, will the changes lead to an improved U.S. corporate governance system? We first note that the broad

Whom You Know Matters: Venture Capital Networks and Investment Performance,

by Yael Hochberg , Alexander Ljungqvist , Yang Lu , Steve Drucker , Jan Eberly , Eric Green , Yaniv Grinstein , Josh Lerner , Laura Lindsey , Max Maksimovic , Roni Michaely , Maureen O'hara , Ludo Phalippou Mitch Petersen , Jesper Sorensen , Per Strömberg Morten Sorensen , Yael Hochberg , Johnson - Journal of Finance , 2007
"... Abstract Many financial markets are characterized by strong relationships and networks, rather than arm's-length, spot-market transactions. We examine the performance consequences of this organizational choice in the context of relationships established when VCs syndicate portfolio company inv ..."
Abstract - Cited by 138 (8 self) - Add to MetaCart
securities (Benveniste and Spindt (1989), Cornelli and Goldreich (2001)). In the corporate loan market, banks often prefer syndicating loans with other banks over being the sole lender. Similarly, in the primary equity and bond markets, banks tend to co-underwrite securities offerings with banks they have
Results 1 - 10 of 1,432