Piotr Dworczak
Institution
Northwestern University
PhD Year
2017
Phone
650-933-7396
piotr.dworczak@northwestern.edu
FTG Membership
Member
Website
https://sites.northwestern.edu/dworczak/
Featured Work
Aug 11, 2023
What type of transparency in OTC markets?
Financial over-the-counter markets have been traditionally very opaque. Recent regulation promotes transparency in some of these markets by lowering search costs, allowing traders to request quotes from multiple dealers at the same time (pre-trade transparency), and requiring public disclosure of past transactions (post-trade transparency). We evaluate these policies using a dynamic trading model with adverse selection. We show that post-trade transparency improves upon the opaque...
