Viable Design of a Security with a Pre-existing Market
Kazuhiko Ōhashi
Abstract
Kazuhiko Ōhashi
Abstract
Emergence of many new securities has been changing the world’s financial markets for the last three decades of the twentieth century. Now, innovation of new securities is one of the main services that the financial institutions provide. Issuance of hybrid securities and securitisation of assets such as MBS (Mortgage Backed Securities), ABS (Asset Backed Securities) and CMO (Collateralised Mortgage Obligation) are examples of this innovation. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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Emergence of many new securities has been changing the world’s financial markets for the last three decades of the twentieth century. Now, innovation of new securities is one of the main services that the financial institutions provide. Issuance of hybrid securities and securitisation of assets such as MBS (Mortgage Backed Securities), ABS (Asset Backed Securities) and CMO (Collateralised Mortgage Obligation) are examples of this innovation. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Key concepts: Hybrid security, Broker-dealer, Business, Financial innovation, Financial system, Security market, Commercial mortgage-backed security, Obligation