Reports
PIFS conducts research on policy issues impacting the global financial system. PIFS research has focused on issues such as US Treasury market liquidity, global equity market structure, the rise of cloud computing and, the regulation of crypto markets.
Regulation of Governance & Risk Management: The Intersection of Banking & Technology
Table of Contents Click to navigate to sectionExecutive SummaryPart I: Corporate Governance and Risk Management at U.S. Banks and U.S. BHCs a. Historical Background b. Legal and Regulatory Duties of Directors and Management at U.S. Banks and U.S. BHCs c. Supervision...
International Review of Equity Market Structure Regulation: Phase III (2021)
In Phase III of our review of equity market structure regulation, which covers the five equity markets that represent roughly 90% of global trading volume, we identify regulatory best practices. We then address policy issues such as competition among trading venues, dark trading (as a complement to lit trading) and algorithmic trading strategies.
International Review of Equity Market Structure Regulation: Phase II (2020)
In Phase II of our review of equity market structure regulation, we analyze the five equity markets that represent roughly 90% of global trading volume. First, we present summary statistics on trading volume in each market. Then, we assess the cost performance of these markets for institutional investors.