Why don't promoters simply charge a market-clearing price for the tickets instead of bashing middlemen who do?
When demand exceeds supply in a normal market, the price rises until it reaches a market-clearing level.
If people are unemployed, it means the price of labor is artificially high relative to the market-clearing price.
Hey, the market-clearing price of any security is where supply and demand meet.
And isn't demand for oil lower than it would have been if the price of oil had been at its true market-clearing level?
"If supply responses and the market-clearing price are not considered, wholesalers and retailers will run out of gasoline and consumers will be worse off, " she says.
If labor and other markets are allowed to function without government intervention, there will be a tendency toward market-clearing prices, including relative wage rates and interest rates that reflect time preferences and the productivity of capital.
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He also wants information related to the bank's market-making activities and its clearing and settlement procedures.
Along with a better-than-expected macro environment in August, surplus inflows to the loan market lifted secondary prices and pressured new-issue clearing yields lower.
The pattern was also clear in the new-issue market where single B clearing yields gapped out 13 bps versus those of BB loans, which remain in high demand not just from institutional loan accounts but banks and cross-over investors.
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In the mid-1980s, when MasterCard entered the market, the clearing system between banks in different cities was (and is) almost non-existent: a cheque could take up to a month to clear, and many sellers would not release goods until it did.
The joint private-sector forum introduced today will specifically be looking into clearing and settlement systems, market liquidity and the development of new yuan-denominated products.
However, they point out this problem could be rectified if the markets were re-sequenced, with the gas market clearing before the electric power bidding process.
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For my purposes today, I want to construe "financial infrastructure" very broadly, to include not only the "hardware" components of that infrastructure--the physical systems on which market participants rely for the quick and accurate execution, clearing, and settlement of transactions--but also the associated "software, " including the statutory, regulatory, and contractual frameworks and the business practices that govern the actions and obligations of market participants on both sides of each transaction.
The same factors are at work in the new-issue market, where, in late June, clearing yields narrowed and flex activity shifted sharply in favor of issuers.
But thanks to Mr Seifert's quick switch to electronic trading and a push to create new markets for smaller firms, Frankfurt now boasts the world's biggest derivatives exchange, Europe's busiest market for hi-tech firms, and a pivotal role in shaping the trading and clearing of Europe's blue-chip shares.
More realistically, market forces will drive clearing and settlement houses to join forces, because it is more cost-efficient when buyer, seller and security are linked.
Bats would save millions each year by clearing its own trades rather than sending them to other market centers, including the all-electronic National Stock Exchange in Chicago.
There is more of a market this year in student places and some Russell Group universities have never previously offered places through Clearing - the system which matches students to vacancies.
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