330 Wirtschaft
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In a year marked by challenging market dynamics, the importance of ESG investments remains unwavering. But the wave of ESG regulations and requests generates a demand for more scalable ways to collect and analyze ESG data. The rise of AI could mark a turning point in an industry heavily burdened by reporting requirements, and unlock the true potential of ESG for businesses and investors alike.
Yes, they are. The securities services industry is at a tipping point of its digital transformation and will now see industry solutions to scale. We identify three fundamental drivers being adopted more broadly: cloud migration, data, and digitization. This triage also drives the scaling of Clearstream’s digital infrastructure D7, one of the leading digital infrastructures globally.
This study explores high-frequency cross-asset lead-lag relationships for various market microstructure dimensions. Utilizing data from stocks, futures, and exchange traded products, the findings uncover significant lead-lag patterns, particularly among fundamentally related instruments. Our results demonstrate that knowledge about lead-lag relationships can be leveraged for forecasting short-term changes in financial markets.
Nowadays, firms lack information to derive the share of wallet, a vital metric that identifies how much additional spending a firm could capture from each customer. However, decoding Blockchain data enables observing all transactions of each wallet, respectively customer, on the Ethereum NFT market. To shed light on the share of wallet, we analyzed 22.7 million transactions from over 1.3 million customers across eight competing firms on the Ethereum NFT market.
Regulatory impact analysis (RIA) serves to evaluate whether regulatory actions fulfill the desired goals. Although there are different frameworks for conducting RIA, they are only applicable to regulations whose impact can be measured with structured data. Yet, a significant and increasing number of regulations require firms to comply by communicating textual data to consumers and supervisors. Therefore, we develop a methodological framework for RIA in case of unstructured data based on textual analysis and apply it to a recent financial market regulation: MiFID II.
WE STUDY REDISTRIBUTIVE EFFECTS OF INFLATION USING A RANDOMIZED INFORMATION EXPERIMENT ON BANK CLIENTS. ON AVERAGE, INDIVIDUALS ARE WELL INFORMED ABOUT CURRENT INFLATION AND ARE CONCERNED ABOUT ITS IMPACT ON WEALTH. YET, MOST INDIVIDUALS ARE NOT AWARE OF HOW INFLATION ERODES NOMINAL POSITIONS. ONCE THEY RECEIVE INFORMATION ON THIS EROSION CHANNEL, THEY UPDATE PERCEPTIONS AND EXPECTATIONS ABOUT OWN NET NOMINAL POSITIONS. LEARNING ABOUT THE INFLATION-INDUCED EROSION OF NOMINAL POSITIONS CAUSALLY AFFECTS CHOICES IN HYPOTHETICAL REAL-ESTATE TRANSACTIONS AND ACTUAL CONSUMPTION. THE FINDINGS SUGGEST THAT HOUSEHOLD WEALTH MEDIATES THE SENSITIVITY OF CONSUMPTION TO INFLATION ONCE HOUSEHOLDS ARE AWARE OF THE BALANCE-SHEET EFFECTS OF INFLATION.