Standard Setting and Competition in Securities Settlement
نویسندگان
چکیده
منابع مشابه
Clearance and Settlement in the Securities Markets
The structure and operation of today's financial markets largely reflect relatively recent advances in electronic information technology and its applications. The ability of market participants to communicate and store vast amounts of information at very high speeds has irreversibly transformed the landscape of these markets. The age of the global, twenty-four-hour-day market is at hand.' Signi...
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The cross-border securities settlement in Europe is still said to be highly inefficient. One main reason can be seen in technical barriers between the different domestic settlement systems. Beside efforts to implement industryspecific communication standards an integration of the different settlement systems is necessary. The CSD-link model, the hub and spokes model, and the European CSD model ...
متن کاملInterlinkages between Payment and Securities Settlement Systems
Payments systems typically involve a number of interconnected systems. These typically have at the center a large-value payment system (in many cases operated by a central bank) through which banks send funds to each other for various purposes. Some of these purposes include providing liquidity to complete transactions in any number of ancillary systems, such as other large value funds transfer...
متن کاملShortening the Securities and Cash Settlement Cycle
Bringing efficiency to the entire trade lifecycle is the key to decreasing risk. With increased cross border trade activities, the post trade process continues to be complex and challenging for investment firms due to lack of harmonization in market practices. Despite technology advances and business process improvements, there are inefficiencies in the settlement process leading to trade and s...
متن کاملRisk and Concentration in Payment and Securities Settlement Systems
Large value payment and securities settlement systems are important components of an economy's nancial system. Many such systems are operated by central banks and are liquidity intensive. Central banks often provide inexpensive liquidity to facilitate settlement. This leads to a number of policy questions about the provision of such liquidity. To answer these questions, central banks need to un...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.1019990