Corey Garriott

Senior Analyst

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Corey Garriott

Senior Analyst
Financial Markets
Market Structure and Regulation

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

Latest

The Impacts of Monetary Policy Statements

Staff Analytical Note 2017-22 Bruno Feunou, Corey Garriott, James Kyeong, Raisa Leiderman
In this note, we find that market participants react to an unexpected change in the tone of Canadian monetary policy statements.

Do Canadian Broker-Dealers Act as Agents or Principals in Bond Trading?

Staff Analytical Note 2017-11 Daniel Hyun, Jesse Johal, Corey Garriott
Technology, risk tolerance and regulation may influence dealers to reduce their trading as principals (using their own balance sheets for sales and purchases of securities) in favour of agency trading (matching client trades).

Banking Regulation and Market Making

Staff Working Paper 2017-7 David A. Cimon, Corey Garriott
We present a model of market makers subject to recent banking regulations: liquidity and capital constraints in the style of Basel III and a position limit in the style of the Volcker Rule.

Options Decimalization

Staff Working Paper 2016-57 Faith Chin, Corey Garriott
We document the outcome of an options decimalization pilot on Canada’s derivatives exchange. Decimalization improves measures of liquidity and price efficiency. The impact differs by the moneyness of an option and is greatest for out-of-the-money options.

June 9, 2016 Securities Financing and Bond Market Liquidity

This report investigates how the markets for repurchase agreements and securities-lending agreements support the liquidity of Canadian bond markets. It also discusses how recent regulatory changes, as well as low interest rates and settlement failures, are potentially affecting securities-financing markets and, as a result, bond market liquidity.

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Education

  • Ph.D. UCLA, 2012
  • M.Phil. University of Cambridge, 2006
  • BA Philosophy and BS Economics, University of South Carolina, 2005

Research Interests

  • Finance
  • Game theory
  • Market structure and pricing

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