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Financial Markets Group

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The Financial Markets Group

Department of Finance
London School of Economics & Political Science
Houghton Street
London WC2A 2AE
United Kingdom

Tel: +44 (0) 207 955 6206
Email:  fmg@lse.ac.uk

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The Financial Markets Group Research Centre (FMG) was established in 1987 at the LSE. The FMG is a leading centre in Europe for policy research into financial markets. It is the focal point of the LSE's research communication with the business, policy making and international finance communities. The FMG works alongside the Department of Finance to understand problems in financial markets and in the decision-making processes of corporations, banks and regulators.



Why investors should be weaned off tight tracking to market indices

Paul Woolley and Dimitri Vayanos argue that exploitative momentum investing would shrivel in the absence of benchmarkers

Simeon Djankov

Brexit Readiness Score
Simeon Djankov
If you believe Prime Minister Theresa May, the United Kingdom will be
ready to exit the European Union in April 2019. If you believe UK businesses, Britain is falling behind in its preparations.

Read the full blog.


Reaching the Promised Holland: Investment Banks Looking to Amsterdam Post Brexit
Simeon Djankov, says"Mainhattan" isn't the only locale in financial institutions' collective crosshairs.

Read the full article.

Board Is Cited in Bank's Collapse
"In Europe, you have 28 different banking systems, which were created nationally under different mandates," said Tom Kirchmaier, deputy director of corporate governance at the London School of Economics.

Asset managers may lose half of their EU business through Brexit, LSE warns. With around £6bn, or 25 per cent, of UK asset management revenues that come from EU-related business set to be directly affected by Brexit, firms should look to open offices across Europe, Simeon Djankov, executive director of the financial markets group at LSE, says.

Read the full article


EU moves to gain control of key London financial market. Simeon Djankov, Executive Director of FMG says "the commission is making the same argument it used in 2014 when it last attempted to pull euro-clearing away from London."

Read the full article.


The City of London after Brexit is the focus of a new FMG discussion paper by Simeon Djankov. In March 2017 the UK government will apply for Article 50 of the Lisbon Treaty to end its membership in the European Union. This unprecedented step follows the 2016 referendum on the country’s exit from the European Union, the results of which surprised many economists.

Read the full article, or view the FMG discussion paper series.


Second LSE-Swiss Re roundtable at the FMG

LSE's partnership with Swiss Re continued on February 24th as the FMG hosted a second roundtable event to investigate the stability of financial markets, the health of private capital markets and more specifically the environment in which long-term investors operate. Read more.

Martin Oehmke

In a new paper in the FMG Discussion Paper series, Martin Oehmke (LSE) and Adam Zawadowski (Central European University) provide evidence that CDS markets emerge as alternative trading venues that serve a standardization and liquidity role.

View the FMG discussion paper series.


FTG London 2017 Conference Announcement

The Financial Markets Group and the Finance Theory Group (FTG) will hold a joint conference covering theoretical work on “The effects of financial frictions in firms, capital markets, and the real economy.” The conference will take place at the London School of Economics from June 19th - 21st, 2017. Read more.

Ian Martin

A new paper by Ian Martin (LSE) and Christian Wagner (Copenhagen Business School) presents a formula that expresses the expected return on a stock in terms of the risk-neutral variance of the market and the stock’s excess risk-neutral variance relative to the average stock.

The paper is published in the FMG Discussion Paper series.


New LSE financial markets research programme in partnership with Swiss Re

LSE has announced a formal partnership with Swiss Re, one of the world's largest reinsurers, to support an 18-month research programme on monetary policy and long tem investment. The project got underway with an event entitled 'The Big Ease'.


What Donald Trump could do to make America great again without destroying free trade

Investors are looking for signs that the populist agendas of his campaign will be left where they belong: on the campaign trail, writes the FMG's Simeon Djankov. Read more.


As well as high-profile public lectures, the FMG runs numerous seminar series, workshops and conferences throughout the year. To learn more, browse all upcoming FMG events and seminars.