The bank bears the risk of not being able to place a portion of the bonds on offer, whereas the borrower has the ... Newly issued bonds are traded for three to six months in the over-the-counter (OTC) market (Nebenbdrse) prior to the official listing on the stock exchanges of Zurich, ... to be relatively small; (b) Swiss investors are conservative and tend not to trade; (c) a sales or (turnover) tax is levied on trades. ... They include: hedging a bond portfolio; profit optimism 202 SWISS FRANC.
|Title||:||The Guide to International Capital Markets|
|Author||:||Ruth Crossan, Mark Johnson|