Trading desks at investment banks often have substantial positions in a broad range of long-term or exotic derivative securities which can be marked to market only by means of mathematical models. Verifying the fair value of these securities is an increasingly important issue, and involves more than just mathematics and a model. It requires software, skill and common sense, all embedded in a su...

We examine the effects of the Securities and Exchange Commission (SEC)-mandated temporary suspension of short-sale price tests for a set of Pilot securities. While shortselling activity increases both for NYSEand Nasdaq-listed Pilot stocks, returns and volatility at the daily level are unaffected. NYSE-listed Pilot stocks experience more symmetric trading patterns and a slight increase in sprea...

Islamic securities (Sukuk) are hybrid securities bearing features of stocks and bonds, altogether. Similar to stocks, they indicate a type of partnership and holders of Sukuk will be considered as the owners of underlying asset or project for finance of which, Sukuk have been issued. Theoretically, these holders share any loss and profit resulted from underlying asset. However, these securities...

Services through the web channel are becoming increasingly popular in the financial sector. The Stock Exchange of Thailand (SET) has implemented Internet trading as a new electronic service delivery channel, but the acceptance by securities investors has not yet been measured to assess the value of the implemented system. The two beliefs of the Technology Acceptance Model (TAM), perceived ease ...

this paper is a comparative study of legal aspect of islamic securities (sukuk), between iran (as shia fiqh) malaysia (as the first country that issued sukuk based on sonni fiqh) and england (as a chief western country in sukuk). results indicate many similarities between iran and malaysia rules despite specifications with england rules. different in definition of contract, asset valuation, lim...

Globalization of markets and internationalization trade significantly affect both the regional national ways doing business, economic trends, balances, as well competitive positions on world market knowledge capital. Securities have a great importance in business. Theory practice agree that issuance securities represents significant social event, locally regionally, globally. Bearing mind topic...

It is generally recognised that integration of European securities markets is economically beneficial to the Member States of the European Union and the European Economic Area. It promotes competition between securities service providers, enhances efficiency of financial systems and contributes to efficient allocation of resources. Integration can enable businesses to procure cheaper finance th...

sset securitization — transforming illiquid assets into tradable securities — is a large and growing market, even rivaling the corporate debt market in size. While the underlying assets can be very different — ranging from song royalties to home mortgages — most asset-backed securities nevertheless share some distinctive features. In “The Economics of Asset Securitization,” Ronel Elul explains ...

GROWING BODY OF theoretical literature, known as the study of securities market microstructure, deals with the behavior of participants in securities markets and with the effects of information and institutional rules on the economic performance of those markets. These institutional factors may arise from technology, tradition or regulation. Microstructure and its impact are important, because ...