Launch and Layering: Difference between pages

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imported>Doug Williamson
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imported>Doug Williamson
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1. ''Bond issuance.''
1.
Money laundering.


The launch of a bond issue is the date the issuer announces its intention to issue the bonds.
The undertaking of a series of financial transactions with the intention of disguising the true source of laundered money.
This is often the second stage of money laundering.
It would follow initial 'placement' of the illegally obtained money into the legitimate financial system.


On the day of the launch, the lead manager makes a public announcement of the issue.
2.
 
Market manipulation.
 
:<span style="color:#4B0082">'''''Exceptional response after launch'''''</span>
 
:"After launch, the order book underwent rapid growth to £3.7bn – oversubscribed by more than 10 times – an exceptional response given market conditions at the time.
 
:Pricing tightened by 0.45% between launch and final pricing."
 
:''ACT Deals of the Year Awards 2020 - Pearson''
 
 
2. ''Products - services - regulation - initiatives.''
 
The initiation, or announcement, of any product, service, regulation or other initiative.


The (illegal) practice of simultaneously entering a large number of orders intended to be cancelled - for example to buy - together with a smaller number of orders intended to be executed - for example to sell. The intention is to artificially influence the market price with the subsequently cancelled orders, and to take advantage of that artificial market price with the executed orders.


== See also ==
== See also ==
* [[Bond]]
* Integration
* [[Issuance]]
* Placement
* [[Lead manager]]
* Spoofing
* [[Order book]]
* [[Security]]
* [[Tightening]]
* [[Yield]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Financial_products_and_markets]]

Revision as of 09:27, 6 April 2013

1. Money laundering.

The undertaking of a series of financial transactions with the intention of disguising the true source of laundered money. This is often the second stage of money laundering. It would follow initial 'placement' of the illegally obtained money into the legitimate financial system.

2. Market manipulation.

The (illegal) practice of simultaneously entering a large number of orders intended to be cancelled - for example to buy - together with a smaller number of orders intended to be executed - for example to sell. The intention is to artificially influence the market price with the subsequently cancelled orders, and to take advantage of that artificial market price with the executed orders.

See also

  • Integration
  • Placement
  • Spoofing