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From Chaos to Coordination: Credit Market Structure Innovations

In: CREDIT MARKET INNOVATIONS How Institutions, Technology, and Regulation Are Reshaping Global Lending

Author

Listed:
  • Frank J. Fabozzi

Abstract

The following sections are included:Introduction: From Handshakes to High-Speed TradingThe Evolution of Credit Markets and the Rise of SecuritizationThe Creation of Secondary Markets for DebtChallenges and risksThe rise of liquid debt marketsThe declining role of dealers in secondary corporate bond marketsThe risk of electronic bond trading of corporate bondsSecuritization and Its Impact on Global Credit MarketsIllustration of securitization of loansSecuritized products created and transaction structureBenefits of securitization to financial marketsThe expanding role of securitization in public and global marketsThe growing importance of securitization in Asia and beyondSecuritization as a tool for financial disintermediationSecuritization and the functions of financial intermediariesLiquidity and market efficiency benefits of securitizationLegal challenges to securitizationThe risks and complexities of securitization in credit marketsTechnological Innovations in Market StructuresSummary

Suggested Citation

  • Frank J. Fabozzi, 2026. "From Chaos to Coordination: Credit Market Structure Innovations," World Scientific Book Chapters, in: CREDIT MARKET INNOVATIONS How Institutions, Technology, and Regulation Are Reshaping Global Lending, chapter 3, pages 47-88, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800618152_0003
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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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