Andreas Uthemann is a Principal Researcher in the Financial Markets Department of the Bank of Canada. His main research interests are in financial economics with a particular focus on market structure and design. Before joining the Bank of Canada, Andreas was a postdoctoral researcher at the London School of Economics. He received his PhD in Economics from University College London.
We look at the informational content of consensus pricing in opaque over-the-counter markets. We show that the availability of price data informs participants mainly about other participants’ valuations, rather than about the value of a financial security.