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Ms. Kunz points out that the moves have already improved the company's liquidity over last year.
The gradual removal of destination restrictions from Asian LNG contracts would boost trade and substantially increase market liquidity over time.
But electronic exchanges are relatively easy to monitor and the Internet minimises the risk of dispersing liquidity over a large number of markets—an investor can scan them all quickly and cheaply.So regulators may even be catalysts for change.
This is exactly what happened.If the BoJ withdraws some of that liquidity over the coming year, the yen is likely to climb against both the dollar and the euro.
That data, covering the U.S. market, shows the massive gaps in liquidity over the years.
"There's never been any evidence of damage to liquidity over the long term from increased transparency," says Joachim.
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He questioned the large profits that some investment banks enjoy from taking proprietary positions at the same time as they make markets for their customers, wondering whether this sort of provision of liquidity is over-valued.
Blockchain could also improve efficiency and liquidity for over-the-counter derivative trades such as credit-default swaps and private stock transactions.
The Marketplaces business operates electronic trading venues, which provide access to liquidity in over-the-counter markets, trade execution and connections for market participants and communities of financial professionals worldwide.
Analysts have said Barnes & Noble, which operates about 800 bookstores in the United States, has been able to take market share from its rival Borders Group, which has been dogged by liquidity issues over the last year and recent management turnover.
It is worth paying a high price to stave off a liquidity crisis over new year: better that weak banks are able to borrow at the same rates as strong ones than that they are not able to borrow at all.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com