The LIBOR scandal and reform agenda:Can we trust these rates again?

January 24th, 2014 by Kara in News

By: Calvin Benedict   The London Interbank Offered Rate (LIBOR) scandal burst into the media spotlight on June 27, 2012, exposing fraudulent actions by Barclays in relation to LIBOR rates. LIBOR is the primary benchmark for short term interest rates globally and is used as a basis for settlement of interest rate contracts on a number of the world’s major futures and options exchanges. The LIBOR scandal has further fuelled the fear that the global financial system is a flawed edifice premised on institutional corruption and has been infamously branded by George Osborne, ...

揭秘金融暗池

January 16th, 2014 by Kara in Case Studies

By: Jackie Connor A translation of this article may be found HERE.        简介: “暗池”这个现代化的概念近来一直在不断发展。Instinet公司于1986年建立了第一个真正意义上的现代暗池:After Hours Cross。 Instinet公司成立这个暗池后不久,ITG公司建立了暗池Posit,此外还有许多其它公司建立的暗池。最近几年,在全世界范围内的暗池不断发展壮大,在过去三年中,美国的暗池交易量增加了50%。 目前2013年,北美地区的暗池情况最为严重,美国地区尤为明显,美国的金融暗池交易大约占到了交易总量的13%。由于暗池的快速增长及其复杂的操作过程,不同来源得出的数据略有不同。暗池在欧洲各国的流行情况都比较相似,但是规模程度不及美国。然而暗池现象在亚洲地区也是存在的,但没有西方国家那么突出。2012年,香港的暗池交易量只占到交易总量的2%。

What should we charge the poor? Ethics in microfinance.

January 2nd, 2014 by Kara in Economics, Essays, Videos

By: Preeti Dhillon     Microfinance is a popular poverty alleviation tool The following examines the ethics of a very popular poverty alleviation tool: microfinance. Specifically, it focuses on one area of this umbrella instrument, microcredit, that is, providing small loans ranging from $50-$1000 USD to those who typically cannot access them from other institutions. Microfinance has become a very popular policy tool, especially within the mainstream agenda. The UN declared 2005 the ‘International Year of Microcredit’ and with the 2006 Nobel Peace Prize going to Professor Muhammad Yunus and his brainchild, Grameen Bank, ...