Unless otherwise defined, a financial institution that – trades exclusively or predominantly in credit derivatives and – arranges securitizations, – in order to generate a trading or commission profit from them. In this context, – credit derivatives are also used specifically to exploit arbitrage opportunities in the market. – In this context, the term “intermediary” must not be used to refer solely to the passing through of credit risks. In the course of securitization, the banks concerned have open positions, in some cases on a very large scale, with not inconsiderable transfer risks.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/