Clearing Services for Global Markets : A Framework for the Future Development of the Clearing Industry Hardback
Clearing forms the core part of a smooth and efficiently functioning financial market infrastructure.
Traditionally, it has been provided by clearing houses, most of which today act as a 'central counterparty' (CCP) between the two sides of a trade.
The rapid growth of cross-border trading has sparked discussion on the most efficient industry structure - particularly in Europe and the US.
At the heart of this discussion lies the question of whether the implementation of a single clearing house creates greater benefits than a more competitive but interlinked market structure.
This is the starting point for this book, which analyses the efficiency of clearing and clearing industry structure.
Along with clear-cut definitions and a concise characterisation and descriptive analysis of the clearing industry, the book determines the efficiency impact of various cross-border integration and harmonisation initiatives between CCPs.
This serves to identify the most preferable future structure for the clearing industry.
- Format: Hardback
- Pages: 570 pages
- Publisher: Cambridge University Press
- Publication Date: 24/09/2009
- Category: Finance & accounting
- ISBN: 9780521518710
- Paperback / softback from £42.15