Florian Nagler has won a EUR 1.4 million ERC Starting Grant from the European Research Council (ERC), to study OTC markets.

Florian will analyze how over-the-counter (OTC) financial markets work. In OTC markets, there is no centralized market, investors must seek out counterparties willing to trade, and liquidity is very limited. Contrary to popular belief, 90 percent of financial assets are traded not on stock exchanges, but on over-the-counter markets.

The ERC aims to encourage the highest quality research through competitive funding and to support independent cutting-edge research in any field on the basis of scientific quality. Since 2008, when the ERC began awarding funding, its calls have become the benchmark and touchstone for European universities doing research at international level.

The Hidden Workings of Overlooked OTC Markets - Knowledge article