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E-book
Author Hasenpusch, Tina P., 1978-

Title Clearing services for global markets : a framework for the future development of the clearing industry / Tina P. Hasenpusch
Published Cambridge, UK ; New York : Cambridge University Press, 2009
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Description 1 online resource (xxxii, 536 pages) : illustrations
Contents Setting the stage : definitions and industry setting -- Defining the core issues : efficiency and network strategies -- Collecting empirical insights : introduction to the empirical study -- Analysing costs of derivatives clearing : transaction cost studies -- Exploring theoretical basics : scale effects in clearing -- What theory reveals : framework for efficiency analysis of network strategies -- Checking theory against reality : case studies of network strategies
Summary 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
Bibliography Includes bibliographical references and index
Notes Print version record
Subject International clearing.
BUSINESS & ECONOMICS -- Banks & Banking.
International clearing
Clearing
Wertpapierhandel
Form Electronic book
LC no. 2009020678
ISBN 9780521518710
0521518717
9780511635106
0511635109
9780511635557
0511635559
1107404479
9781107404472
9780511634154
0511634153