Unique insights into shadow banking and opaque markets.

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Data compilation for investors, service providers, and regulators.

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Market expertise in risks, procedures, and governance.

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Policy trends in global capital markets.

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Full Entitlement Voting

Full Entitlement Voting (FEV) is a way of achieving end-to-end confirmation of cast proxy votes, especially for cross-border positions. In securities lending, FEV is a way of reducing the risk of market disruptions from lender recalls to vote, especially recall-driven disruptions such as fire sales of assets in reinvested cash collateral pools. That is the pre-eminent goal of the global regulators in trying to force extensive disclosures and impose heavy capital charges on securities lending agents. Lender Directed Voting is one practical application of the FEV concept to securities lending. 


ROSE Program

Regulatory Outreach for Student Education (ROSE) Program. CSFME partners directly with universities and colleges to help students better appreciate the subtleties of the ongoing debate among professionals in the U.S. financial industry and policy makers at the federal regulatory agencies.  CSFME's ROSE Program provides top economics and finance undergraduates with opportunities to  meet with representatives from industry trade groups and federal agencies in Washington. Learn more about ROSE.

Bringing Clarity to Opaque Markets

The Center for the Study of Financial Market Evolution (CSFME) is an independent, nonprofit organization whose mission is to improve transparency, reduce risks, support research, and promote sound regulation of financial markets. It does so by conducting data-driven analysis, providing investor education and outreach, and supporting regulatory reviews in otherwise opaque markets. It serves individual and institutional investors, banks, brokers, other financial market participants, academic institutions, and government regulatory agencies.
More about our mission


Who Will Enforce the Volcker Rule, and How?

Thursday, July 23, 2015

On July 21, 2015, following a long five-year proposal and comment period, the collection ...

European Banking Authority's Semi-Annual Report On Risks In The European Banking Sector

Tuesday, July 21, 2015

On July 3, 2015, the European Banking Authority (EBA) published its seventh semi-annual report ...