Assessing financial regulatory coordination and integration with reference to OTC derivatives regulation

Godwin, Andrew; Ramsay, Ian; Sayes, Edwin

doi:10.1093/cmlj/kmw028

Cited by 5 publications

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“…But these processes may not necessarily lead to coordination or convergence in regulation. Various orientations of state nodes could result in regulation different from the desirable regulation at an international level (Godwin et al, 2017, p. 42). This possible divergence is because of the decentralized, network‐as‐structure shape the potential CBDC network is likely to take.…”

Section: Discussionmentioning

confidence: 99%

The future of the international financial system: The emergingCBDCnetwork and its impact on regulation

Wang

Gao

2023

Regulation & Governance

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Central bank digital currency (CBDC) is a digital form of fiat currency. CBDC has the potential to be a game challenger in the international financial system, bringing increased complexities arising from technology and regulatory considerations, as well as generating greater currency competition. As more states begin exploring CBDC, the interactions between actors may lead to the emergence of a new CBDC network. What shape would the emerging CBDC network take? What would its network effects be? What would be the impact of the CBDC network on the international financial system, or the global financial network? This article explores these questions by examining the emerging CBDC network and its regulatory implications. It argues that the CBDC network would likely be both decentralized and uncoordinated, making it unlikely to lead to convergence in CBDC regulation. The CBDC network would probably bring policy diffusion effects, with states behaving instrumentally, while shaking up the power balance between different actors, generating both cooperation and conflict. The CBDC network also has the potential to push international financial system toward becoming more decentralized.

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Section: Discussionmentioning

confidence: 99%

The future of the international financial system: The emergingCBDCnetwork and its impact on regulation

Wang

Gao

2023

Regulation & Governance

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“…Chung et al 2017found that active trading by foreign investors tends to exacerbate informational variation. Borg (2015) and Godwin et al (2017) examined the role of financial politics in the derivatives market. Harada et al (2016) found that the regulation of the derivatives markets has a relationship with financial crises.…”

Section: Literature Reviewmentioning

confidence: 99%

Trading support method based on computational intelligence for speculators in the options market

Maknickienė¹,

Maknickas²,

Martinkutė-Kaulienė³

2020

Journal of International Studies

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The financial world has changed dramatically in recent decades. Electronic data processing, globalisation, and deregulation have changed markets, and the biggest part of these major changes includes derivatives. As financial markets become more interconnected and global, volatility in these markets may increase dramatically in the future. It is natural that the derivatives market is gaining attention and popularity among market participants as an alternative to traditional investment and speculative instruments. The growing number of technologydriven applications and innovations in the financial sector encourages the inclusion of products relating to automated trading and robotic advice in financial decision-making. The aim of this paper is to investigate different option-trading strategies and to evaluate the effect of computational intelligence on trading success in the derivatives markets. The recurrent neural network (RNN) Keras was adopted for forecasting option prices, and the results were compared with the forecasting using the evolution of recurrent systems with optimal linear output algorithms (EVOLINO) for RNNs. This forecasting

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“…Set in motion by the Group of Twenty (G20) 2009 summit in Pittsburgh, the regulatory overhaul has transformed what used to be a relatively harmonious and transnational legal regime into a global regulatory space which -like all regulatory spaces (Hancher and Moran 1998) -is highly contested. In the light of the hypotheses developed in Chapter 1 of this book, this chapter evaluates the implementation and coordination of the globally agreed derivatives reforms in and between the United States and the European Union (for earlier research on this topic, see Godwin et al 2017).…”

Section: Introductionmentioning

confidence: 99%

Governing Finance in Europe

Héritier¹

2021

Legal Accountability in EU Markets for Financial Instruments

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This chapter builds on recent work in a project funded by the Swedish Research Council on the evolution of regulatory structures in EU financial governance, which provides a comprehensive framework to investigate the dynamics leading to centralization, decentralization, and fragmentation in EU financial regulation. This generalizable theoretical account of regulatory centralization and its counterforces has been subject to an empirical assessment on the basis of major EU legislative packages in financial regulation, including the Markets in Financial Instruments Directive II (MiFID II) and capital markets union. This chapter further builds on the subsequent work, asking who benefits from the regulatory measures analysed, and how are decision-makers and stakeholders held politically and administratively accountable. The chapter focuses on all actors involved in the regulatory process: politicians and regulators, as well as market players such as investors, fund managers, and investment firms, and outlines the modes in which they are linked through various political and administrative accountability mechanisms. Its analysis of accountability channels is related to policy contents by asking whether specific regulatory objectives and results give rise to the mobilizing of available accountability channels, and whether the use of accountability channels helps improve regulatory decisions.

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Assessing financial regulatory coordination and integration with reference to OTC derivatives regulation

Cited by 5 publications

References 0 publications

The future of the international financial system: The emergingCBDCnetwork and its impact on regulation

The future of the international financial system: The emergingCBDCnetwork and its impact on regulation

Trading support method based on computational intelligence for speculators in the options market

Governing Finance in Europe

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