PREPARATION – LPFMI Robert Steigerwald paper review

All,

This is the first of two webinar series to prepare for YSI LPFMI and our conference Sun. 27. – Wed. 30. Oct. 2019 in Chicago in conjunction with the Fed Chicago CCP conference Tue. 29. Oct. 2019. This series is to spark independent thinking for scholars and potential candidates for the topic of LPFMI research on CCP / derivative markets.

In this series, we'll be focusing on papers by Robert Steigerwald, FRBC to better understand CCP fundamentals. We will first read the below papers to get an understanding and prepare a broad set of questions. In a second webinar, we will be debriefing with Robert Steigerwald directly. Céline Tcheng, FS WG coordinator and Andrew Medeiros, YSI member will lead this effort.

Jay and Kiko

PS: If you have missed our LPFMI introduction presentation, you can find it here. For a recording of this presentation, please press here.

==> All papers are saved on dropbox at the below address. Just inquire access via dropbox or click the links below – https://www.dropbox.com/home/Liquidity%20Project%20FMI/STEIGERWALD_Robert_paper_debrief

DISCUSSED PAPERS by Robert Steigerwald
1) Steigerwald, Marshall – time critical liquidity – https://www.chicagofed.org/~/media/publications/economic-perspectives/2013/2q2013-part1-marshall-steigerwald-pdf.pdf
2) Bliss, Robert, & Robert S. Steigerwald, 2006, “Derivatives Clearing and Settlement: A Comparison of Central Counterparties and Alternative Structures,” FRBC, Economic Perspectives, Vol. 30, No. 4 (4th Qtr.), available at:
http://www.chicagofed.org/digital_assets/publications/economic_perspectives/2006/ep_4qtr2006_part2_bliss_steigerwald.pdf

REQUIRED FURTHER READING FOR BETTER UNDERSTANDING
3) Merton, Robert C., & Zvi Bodie, 2005, “Design of Financial Systems: Towards a Synthesis of Function and Structure,” Journal of Investment Management, Vol. 3, No. 1, pp. 1-23, available at:
http://www.people.hbs.edu/rmerton/Designpaperfinal.pdf
4) 1995, Merton, Robert C. and Zvi Bodie. "A Conceptual Framework for Analyzing the Financial Environment," available at:
https://www.researchgate.net/profile/Zvi_Bodie/publication/228224831_A_Conceptual_Framework_for_Analyzing_the_Financial_Environment/links/0deec51a38bb1ce588000000/A-Conceptual-Framework-for-Analyzing-the-Financial-Environment.pdf