| Description |
1 online resource (xxxii, 536 pages) : illustrations |
|
text file |
| Bibliography |
Includes bibliographical references and index. |
| 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. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
International clearing.
|
|
International clearing. |
| Genre/Form |
Electronic books.
|
|
Electronic books.
|
| Other Form: |
Print version: Hasenpusch, Tina P., 1978- Clearing services for global markets. Cambridge, UK ; New York : Cambridge University Press, 2009 (DLC) 2009020678 |
| ISBN |
9780521518710 (hardback) |
|
0521518717 (hardback) |
|
9780511635106 (electronic book) |
|
0511635109 (electronic book) |
|
9780511635557 (electronic book) |
|
0511635559 (electronic book) |
| Standard No. |
9786612336744 |
|
