01264nas a2200169   4500008004100000245006800041210006600109260000900175300001200184490000700196520071400203653001200917100002000929700001700949700001600966856011200982       2014                        eng d00aWhat makes when-issued trading attractive to financial markets?0 aWhat makes whenissued trading attractive to financial markets  c2014  a245-2710 v233 aWhen-issued trading is the trading of securities prior to the actual issue of the security. When-issued trading is active around the world and in a variety of equity and bond markets. In this survey, we provide a general description of when-issued trading, analyze benefits and costs in various financial markets, present existing theoretical models and predictions, and synthesize empirical findings. We find that when-issued trading promotes price discovery, mitigates information asymmetry, provides convenience for trading ahead of the actual issue of the security, and in some markets reduces volatility. In addition, we offer policy implications and suggest directions for further research in this area.10aFinance1 aBrooks, Raymond1 aKim, Yong, H1 aYang, Jimmy  uhttps://stage.business.oregonstate.edu/biblio/what-makes-when-issued-trading-attractive-financial-markets-0