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DESCRIPTION;ENCODING=QUOTED-PRINTABLE:BOFIT Seminar - Sanjay Banerji (University of Nottingham) - Forgery, market liquidity, and demat trading: Evidence from the National Stock Exchange in India =0D=0A Co-author: Madhav S. Aney (Singapore Management University=0D=0A Abstract: =0D=0A We analyse the impact of the introduction of a new technology on the National Stock Exchange in India that allowed trading of stocks without the need to transfer paper share certicates (demat trading). We  find that there was a sharp increase in market liquidity following its introduction and this was greatest for those stocks that were previously illiquid. We present evidence that suggests that the primary channel for the increase in liquidity was the elimination of the risk of being sold forged securities as the clearing system took on the risk of reimbursing buyers of forged shares at the introduction of demat trading.=0D=0A  =0D=0A Online BOFIT seminars are open to all researchers interested in the subjects covered.  Those wishing to attend a seminar are kindly asked to register in advance, by filling in the  Online Registration Form . =0D=0A The registration for each seminar is open until 9:00 am the day of the seminar. You will receive a link to join the seminar by email at the latest one hour before the seminar is scheduled to begin. =0D=0A
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DTSTART:20240206T083000Z
LOCATION:MS Teams
SUMMARY:Sanjay Banerji (University of Nottingham) - Forgery, market liquidity, and demat trading: Evidence from the National Stock Exchange in India
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