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The premier meeting place for the risk profession.
Stamford, February 16, 2005
 Liquidity Risk In Financial Markets
 
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The premier meeting place for the risk profession.
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Kelsey Biggers,
Managing Director, Risk Management, K2 Advisors, LLC•
Bill Gallagher,
Managing Director, Chief Credit Officer, RBS GreenwichCapital•
RajGupta,
Research Director, Center for International Securities andDerivatives Markets•
HenrikNeuhaus,
Managing Director, Chief Quantitative Officer, Parker GlobalStrategies, LLC•
Andrew Weisman,
Director of Risk Management and Research, StrativariusCapitalManagement, LP•
Gordon Yeager,
Managing Director, Head of Risk Management, StanfieldCapital Partners LLC
Panelists
The globally-endorsed standard for assessing the knowledge, competence and integrity of risk professionals.
 
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The premier meeting place for the risk profession.
•
In a liquid market participants may rapidly executelarge-volume transactions with small impact onprices
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Three components of liquidity:
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“tightness”–cost of turning around a positionover a short period, usually measured bybid/offer spreads
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“depth”–volume of trades needed tosignificantly affect prices
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“resiliency”–the speed with which pricesreturn to “equilibrium”once the impact of trades has dissipated
1.What is liquidity in financial markets?
Serving the full spectrum of your professional development.
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