Y.C. Loon

Senior Financial Economist, Office of Financial Intermediaries (DERA)

Education Summary

  • Ph.D. Finance, Georgia State University, 2007

Fields of Interest

  • Security-Based Swaps
  • Credit Derivatives
  • Financial Intermediaries
  • Market Microstructure

  • Senior Financial Economist
    Division of Economic and Risk Analysis
    U.S. Securities and Exchange Commission
    May 2023-present
  • Financial Economist 
    Division of Economic and Risk Analysis
    U.S. Securities and Exchange Commission
    2014-May 2023
  • Assistant Professor of Finance
    Binghamton University 
    2007-2014

  • Randis Brown, Giulio Girardi, Y.C. Loon, Enrique Lopez, and Jovan Stojkovic, 2026, The Financial Conditions of Security-Based Swap Dealers, SEC White Paper
  • Y.C. Loon, 2025, Security-Based Swap Dealer Statistics, SEC White Paper

  • CPMI and IOSCO (with members of the CPMI-IOSCO Harmonisation Group), 2019, Governance Arrangements for critical OTC derivatives data elements (other than UTI and UPI),https://www.iosco.org/library/pubdocs/pdf/IOSCOPD642.pdf.
  • CPMI and IOSCO (with members of the CPMI-IOSCO Harmonisation Group), 2018, Consultative Report on Governance Arrangements for critical OTC derivatives data elements (other than UTI and UPI),  https://www.iosco.org/library/pubdocs/pdf/IOSCOPD611.pdf.
  • CPMI and IOSCO (with members of the CPMI-IOSCO Harmonisation Group), 2018, Technical Guidance on Harmonisation of critical OTC derivatives data elements (other than UTI and UPI),  https://www.iosco.org/library/pubdocs/pdf/IOSCOPD598.pdf.
  • CPMI and IOSCO (with members of the CPMI-IOSCO Harmonisation Group), 2017, Consultative Report on Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) – third batch,  https://www.iosco.org/library/pubdocs/pdf/IOSCOPD565.pdf.
  • Y.C. Loon and Zhaodong (Ken) Zhong, 2016, Does Dodd-Frank Affect OTC Transaction Costs and Liquidity? Evidence from Real-Time CDS Trade Reports,  Journal of Financial Economics 119(3): 645-672.
  • Loon, Y.C. and Zhaodong (Ken) Zhong, 2014, The Impact of Central Clearing on Counterparty Risk, Liquidity, and Trading: Evidence from the Credit Default Swap Market, Journal of Financial Economics 112(1): 91-115.
  • Kale, Jayant R. and Y.C. Loon, 2011, Product Market Power and Stock Market Liquidity, Journal of Financial Markets 14(2): 376-410.
  • Agarwal, Vikas, Bill Fung, Y.C. Loon, and Narayan Naik, 2011, Risk and Return in Convertible Arbitrage: Evidence from the Convertible Bond Market, Journal of Empirical Finance 18(2): 175-194.
  • Y.C. Loon, 2011, Model Uncertainty, Performance Persistence and Flows, Review of Quantitative Finance and Accounting 36(2): 153-205.

Last Reviewed or Updated: April 2, 2026