Arbeitspapier
Liquidity Provision in the Overnight Foreign Exchange Market
We presents evidence that non-financial customers are the main liquidity providers in the overnight foreign exchange market using a unique daily data set covering almost all transactions in the SEK/EUR market over almost ten years. Two main findings support this: (i) The net position of non-financial customers is negatively correlated with the exchange rate, opposed to the positive correlation found for financial customers; (ii) Changes in net position of non-financial customers are forecasted by changes in net position of financial customers, indicating that non-financial customers take a passive role consistent with liquidity provision.
- ISBN
-
82-7553-263-9
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 2004/13
- Classification
-
Wirtschaft
Foreign Exchange
Open Economy Macroeconomics
International Financial Markets
- Subject
-
microstructure
international finance
liquidity
- Event
-
Geistige Schöpfung
- (who)
-
Bjønnes, Geir Høidal
Rime, Dagfinn
Solheim, Haakon
- Event
-
Veröffentlichung
- (who)
-
Norges Bank
- (where)
-
Oslo
- (when)
-
2004
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Bjønnes, Geir Høidal
- Rime, Dagfinn
- Solheim, Haakon
- Norges Bank
Time of origin
- 2004
Other Objects (12)
Bond Liquidity at the Oslo Stock Exchange
Liquidity provision in the overnight foreign exchange market
The rationale for central bank liquidity insurance and liquidity regulation
Norwegian Overnight Interbank Interest Rates
Why Do Firms Pay for Liquidity Provision in Limit Order Markets?
The Information Content of Market Liquidity: An Empirical Analysis of Liquidity at the Oslo Stock Exchange?
Liquidity at the Oslo Stock Exchange
Ownership Structure and Stock Market Liquidity
Liquidity indicators for the Norwegian government bond market
Interbank Overnight Interest Rates - Gains from Systemic Importance
The International Monetary System, 1844-1870: Arbitrage, Efficiency, Liquidity
On the Concavity of the Consumption Function with Liquidity Constraints
Bond Liquidity at the Oslo Stock Exchange
Liquidity provision in the overnight foreign exchange market
The rationale for central bank liquidity insurance and liquidity regulation
Norwegian Overnight Interbank Interest Rates
Why Do Firms Pay for Liquidity Provision in Limit Order Markets?
The Information Content of Market Liquidity: An Empirical Analysis of Liquidity at the Oslo Stock Exchange?
Liquidity at the Oslo Stock Exchange
Ownership Structure and Stock Market Liquidity
Liquidity indicators for the Norwegian government bond market
Interbank Overnight Interest Rates - Gains from Systemic Importance
The International Monetary System, 1844-1870: Arbitrage, Efficiency, Liquidity
On the Concavity of the Consumption Function with Liquidity Constraints
Bond Liquidity at the Oslo Stock Exchange
Liquidity provision in the overnight foreign exchange market
The rationale for central bank liquidity insurance and liquidity regulation
Norwegian Overnight Interbank Interest Rates
Why Do Firms Pay for Liquidity Provision in Limit Order Markets?
The Information Content of Market Liquidity: An Empirical Analysis of Liquidity at the Oslo Stock Exchange?
Liquidity at the Oslo Stock Exchange
Ownership Structure and Stock Market Liquidity
Liquidity indicators for the Norwegian government bond market
Interbank Overnight Interest Rates - Gains from Systemic Importance
The International Monetary System, 1844-1870: Arbitrage, Efficiency, Liquidity