The Leap Blog

by Rajeeva Karandikar and Ajay Shah. Financial markets and the Trump victory Donald Trump's election victory was an unpleasant surpr...

I have been very interested in the evolution of exchange-traded currency derivatives in India. Some prominent people in the field do not sha...

Mulling over the global financial turbulence induces a focus on problems such as credit rating agencies and OTC derivatives. I have an art...

Business Standard has an excellent editorial on the problems of Sahara India Financial Corporation. It talks about the difficulties of shu...

One of the many clever things that were done in the equity market reforms of the 1990s was a pro-competitive framework for depositories. The...

Stephen Cecchetti expands and enlarges on his previous arguments about the importance of exchange-traded instead of OTC in achieving a so...

Joydeep Mukherji pointed me to an article in Mint which points out that India's share in the global currency market has risen from 0.3%...

The MIFC book has argued (page 152-153) that there is a case for a policy bias in favour of exchange-trading over the OTC market. On 5 Oc...

My recent post on prediction markets elicited a fascinating set of comments. Nitin said that publicgyan is a website trying to do a pred...

The risk management of the NSCC is greatly respected owing to episodes like May 2004, when volatility skyrocketed but the systems worked fin...

Margins are good faith deposits posted by market participants. While margins are normally defined by a rule book, recently there were two pu...

For an economist, the goal of financial sector policy and regulation is: market efficiency. The normative benchmark is a market which is an ...