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The New Market Structure, Liquidity Dynamics, & Fragilizers: An Unprecedented Situation With Serious Implications

The New Market Structure, Liquidity Dynamics, & Fragilizers: An Unprecedented Situation With Serious Implications Authored by Alexis Maubourguet, CIO, and Clément Mary-Dauphin, CEO of Adapt Investment Managers, RISK ACTUALLY A holistic review of the recent changes in the distribution of risk across the financial system and their consequences for market structure in general and Liquidity Dynamics in particular. INTRODUCTION After a year in which “everyone won,” it would have been natural to start the new year with confidence, if not outright greed. As natural sceptics, we have always found that difficult. More recently, however,...
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