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1 Markets I: The Ecosystem and Exchange-Traded Marketsالأسواق عبر الإنترنت 2 Markets II: Rates, FX and Creditالأسواق عبر الإنترنت 3 Markets III: Commodities, Energy and Cryptoالأسواق عبر الإنترنت 4 Quantitative Methodsالأساليب عبر الإنترنت 5 Derivatives and Volatilityالمشتقات عبر الإنترنت 6 Rates, Credit, XVA and Riskالفائدة والائتمان والمخاطر عبر الإنترنت 7 Research Craft: Predictors, Backtests, Measurement, Portfoliosالبحث عبر الإنترنت 8 Strategies I: Equities and Futuresالاستراتيجيات عبر الإنترنت 9 Strategies II: Volatility, Relative Value, Macro and the Bank Desksالاستراتيجيات عبر الإنترنت 10 Microstructure and Executionالتنفيذ عبر الإنترنت 11 Market Making and High-Frequency Tradingصناعة السوق عبر الإنترنت 12 Machine Learning for Marketsتعلم الآلة عبر الإنترنت 13 Low-Latency Softwareالتكنولوجيا عبر الإنترنت 14 Networks, Hardware and Trading Infrastructureالتكنولوجيا عبر الإنترنت 15 Research, Data and Risk Platformsالتكنولوجيا عبر الإنترنت 16 The Desk and the Firmالشركة عبر الإنترنت 17 The Industry: Firms, Roles and Careersالمسارات المهنية عبر الإنترنت 18 The Interview Bookالمسارات المهنية عبر الإنترنت
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Quantitative Finance · المسرد

ما معنى Inter-dealer broker and dealer-to-client platform؟

يُعرف أيضًا باسم: inter-dealer broker · dealer-to-client platform

Definition 4.8 Markets II: Rates, FX and Credit · الفصل 4 — The Treasury Market

An inter-dealer broker operates the venue on which dealers, and increasingly non-dealers, trade with one another, anonymously: for benchmark Treasuries, a central limit order book; for off-the-run issues, mostly voice-assisted brokers. A dealer-to-client platform lets a client request quotes from several dealers at once and trade on the best (Chapter 22).

The structure of the US Treasury market. The Treasury sells to dealers and direct bidders at auction; clients buy mostly from dealers on request; dealers and principal trading firms trade with each other in the inter-dealer order books and in futures. The clearing mandate () will send more of the secondary trading through a clearing house.
Figure 4.2. The structure of the US Treasury market. The Treasury sells to dealers and direct bidders at auction; clients buy mostly from dealers on request; dealers and principal trading firms trade with each other in the inter-dealer order books and in futures. The clearing mandate (Box 4.2) will send more of the secondary trading through a clearing house.
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