Financial Market Structure and Dynamics - 2001 Conference

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

Introduction
Charles Gaa and Peter Thurlow

Opening Remarks
Ron Parker

Session 1: Financial Market Structure

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

Discussion: Jos R. Heuvelman

General Discussion

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

Discussion: Blake LeBaron

General Discussion

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

Discussion: Charles Gaa

General Discussion

Liquidity, Transactions Costs, and Reintermediation in Electronic Markets
Ian Domowitz

Discussion: Peter Thurlow

General Discussion

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

Discussion: Robert White

General Discussion

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

Discussion: Gerald Goldstein

General Discussion

Session 2: Asset-Price Dynamics

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

Discussion: Shafiq K. Ebrahim

General Discussion

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

Discussion: Asani Sarkar

General Discussion

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

Discussion: Chris D'Souza

General Discussion

Panel Discussion

Discussion 1: John Chant

Discussion 2: Dino Kos

Discussion 3: Richard K. Lyons

The Participants

Bank topic index: Market Structure and Pricing