Download or read book Plumbers and Visionaries written by Peter Norman and published by John Wiley & Sons. This book was released on 2008-07-31 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Plumbers and Visionaries: Securities Settlement and Europe’s Financial Market is a path-breaking account of the history and future of the securities settlement industry in Europe. Written by experienced journalist and author, Peter Norman, this book takes a look at the less visible, but nevertheless critical segment of the global capital markets, following the development of securities settlement across Europe’s frontiers. It encompasses the free-wheeling days of the Eurobond market in the 1960s, through the growing integration of the European Union, to the highly regulated and efficient multi-trillion euro business securities settlement it is today. This book is the story of a financial sector that has grown hugely in importance in the 40 years since Euroclear, now the world’s premier settlement system for domestic and international securities transactions, was created to deal with a settlement crisis that threatened to smother the international capital market in its infancy. Beginning with the settlement crisis in the Eurobond market, this book describes how Euroclear and later Cedel, its arch-rival, were founded to deal with the problem. It follows the challenges posed by cross-border settlement for a growing range of securities when most financial infrastructures operated only within national frontiers. The book demonstrates how securities settlement became an issue for public policy after the stock market crash of 1987 and how the problems of cross-border settlement moved rapidly up the European policy agenda after the euro’s launch. More than a mere history, this book engages with the people who created the modern European securities settlement industry and taps into the often entertaining memories of its founding fathers. This book also focuses on the difficulties and challenges of cross-border transactions which have been identified as hampering Europe’s economic growth. It looks at the present state of the industry seeking a way forward so that the securities settlement infrastructure will better serve a single European capital market.

Download or read book The Euro at Ten written by Kenneth Dyson and published by Oxford University Press. This book was released on 2008-09-04 with total page 495 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Euro Area is ten years old. This major new reappraisal by some of the world's leading scholars examines the effects of the new European single currency on the member states of the European Union in its first decade.

Download or read book The New Intergovernmentalism written by Christopher J. Bickerton and published by . This book was released on 2015 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The twenty years since the signing of the Maastricht Treaty have been marked by an integration paradox: although the scope of European Union (EU) activity has increased at an unprecedented pace, this increase has largely taken place in the absence of significant new transfers of power to supranational institutions along traditional lines. Conventional theories of European integration struggle to explain this paradox because they equate integration with the empowerment of specific supranational institutions under the traditional Community method. New governance scholars, meanwhile, have not filled this intellectual void, preferring instead to focus on specific deviations from the Community method rather than theorizing about the evolving nature of the European project. The New Intergovernmentalism challenges established assumptions about how member states behave, what supranational institutions want, and where the dividing line between high and low politics is located, and develops a new theoretical framework known as the new intergovernmentalism. The fifteen chapters in this volume by leading political scientists, political economists, and legal scholars explore the scope and limits of the new intergovernmentalism as a theory of post-Maastricht integration and draw conclusions about the profound state of political disequilibrium in which the EU operates. This book is of relevance to EU specialists seeking new ways of thinking about European integration and policy-making, and general readers who wish to understand what has happened to the EU in the two troubled decades since 1992.

Download or read book Financial Law in the Netherlands written by Marcel C. A. van den Nieuwenhuijzen and published by Kluwer Law International B.V.. This book was released on 2010-09-24 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Netherlands is one of a handful of countries in which bank enterprise and national financial law give rise to a large number of international financial transactions. It is important then for practitioners in other countries to gain more than a notional understanding of the specific features of Dutch financial law, as well as a clear working knowledge of how Dutch financial law interacts with supranational regulatory and policy regimes affecting financial transactions. Toward this end, this very useful book provides a practical but nevertheless thorough survey of Dutch financial law, with lucid explanations of such topics as the following: specific rules applicable to investment institutions; specific rules applicable to debt instruments; offering securities in both primary and secondary markets; set-off and calculation of obligations of market participants (netting); structures for custody and book-entry transfer of securities; obtaining and terminating listings; mandatory bids, competing bids, friendly and unfriendly bids under public offering regulations; alternative investment funds and fund governance; meaning, jargon and function of derivatives, forwards, futures, options, swaps, etc.; securities repurchase and lending transactions; covered bond regulations; caretaking duties in private and public law; structure of legal proceedings of a prospectus liability claim; unfair commercial practices rules; case law in insider trading and market manipulation; and securities litigation in Dutch private, criminal, and administrative law. Written in clear, easy-to-follow English, this book makes Dutch financial law accessible to lawyers, business persons, and others whose work entails financial transactions in the Netherlands. It also serves as an admirable text for students and academics in the field of financial law.

Download or read book Cross border Transactions of Intermediated Securities written by Changmin Chun and published by Springer Science & Business Media. This book was released on 2012-08-04 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work aims to analyse substantive and conflict of laws rules regarding intermediated securities in a comparative way. For this purpose, it examines major jurisdictions’ rules for intermediated securities and the intermediated securities holding systems, such as the rules of the German, US, Korean, Japanese and Swiss systems, as well as the relevant EU regimes and initiatives. Above all, it analyses the two international instruments related to intermediated securities, i.e. the Geneva Securities Convention and the Hague Securities Convention. Through a functional comparative approach based upon legal traditions of the various jurisdictions, this book gives readers theoretical and practical information on intermediated securities and their national and international aspects.

Download or read book The Politics of Regime Complexity in International Derivatives Regulation written by Lucia Quaglia and published by . This book was released on 2020 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the post-crisis international regulation of derivatives by bringing together the international relations literature on regime complexity and the international political economy literature on financial regulation.

Download or read book The Political Economy of Financial Regulation written by Emilios Avgouleas and published by Cambridge University Press. This book was released on 2019-01-31 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of cutting-edge scholarship examines the law and policy of financial regulation using a combination of conceptual analysis and strong empirical research. The book's authors range from global leaders to rising stars in the field, all of whom shed light on complex questions of financial sector regulation theory and practice in key economies ranging from the EU to China. Key topics include the role of law in constituting financial markets, the efficiency of markets, the role of interest groups in shaping financial regulation, the interdependence and interactions of international financial regulation with international trade and monetary regimes, and problems of regulation in state capitalism economies. This exciting volume opens the road for further enrichment of the academic and policy-making dialogue on financial regulation and regulatory practice, and reflects new trends in legal and social-science scholarship.

Download or read book The Society for Worldwide Interbank Financial Telecommunication SWIFT written by Susan V. Scott and published by Routledge. This book was released on 2013-10-30 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: A PDF version of this book is available for free in open access via www.tandfebooks.com as well as the OAPEN Library platform, www.oapen.org. It has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 3.0 license and is part of the OAPEN-UK research project. This book traces the history and development of a mutual organization in the financial sector called SWIFT, the Society for Worldwide Interbank Financial Telecommunication. Over the last forty years, SWIFT has served the financial services sector as proprietary communications platform, provider of products and services, standards developer, and conference organizer ("Sibos"). Founded to create efficiencies by replacing telegram and telex (or ‘wires’) for international payments, SWIFT now forms a core part of the financial services infrastructure. It is widely regarded as the most secure trusted third party network in the world serving 212 countries and over 10,000 banking organizations, securities institutions and corporate customers. Through every phase of its development, SWIFT has maintained the status of industry cooperative thus presenting an opportunity to study broader themes of globalization and governance in the financial services sector. In this book the authors focus on how the design and current state of SWIFT was influenced by its historical origins, presenting a comprehensive account in a succinct form which provides an informative guide to the history, structure, activities and future challenges of this key international organization. This work will be of great interest to students and scholars in a wide range of fields including IPE, comparative political economy, international economics, business studies and business history.

Download or read book The Economics of Large value Payments and Settlement written by Mark Manning and published by Oxford University Press. This book was released on 2009-09-24 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive account of the theory and practice of large-value payment systems in the banking sector. In particular it explores central banks' roles in payment systems, the risks on which central banks focus in their oversight activities, and the challenges central banks face as the payments and settlement landscape evolves.

Download or read book The World Scientific Handbook of Futures Markets written by Anastasios G. E. T. Al MALLIARIS and published by World Scientific. This book was released on 2015-08-06 with total page 844 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The World Scientific Handbook of Futures Markets serves as a definitive source for comprehensive and accessible information in futures markets. The emphasis is on the unique characteristics of futures markets that make them worthy of a special volume. In our judgment, futures markets are currently undergoing remarkable changes as trading is shifting from open outcry to electronic and as the traditional functions of hedging and speculation are extended to include futures as an alternative investment vehicle in traditional portfolios. The unique feature of this volume is the selection of five classic papers that lay the foundations of the futures markets and the invitation to the leading academics who do work in the area to write critical surveys in a dozen important topics."--$cProvided by publisher.

Download or read book EMU and Political Science written by Henrik Enderlein and published by Routledge. This book was released on 2013-10-31 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe’s Economic and Monetary Union (EMU) celebrated its tenth anniversary in 2009. Before its birth many observers were concerned about its viability. This volume examines a number of noteworthy concerns that were heard a decade ago and it assesses what has become of them. The contributors to this volume examine various topics. Has EMU been a failure or success? Does EMU require more political integration? What type of deeper integration in the financial market has occurred because of EMU? Does the public like EMU? Does EMU cause a decline of the welfare state, reduce the role of labour unions and are adjustments now made mainly through the labour market? Do countries in EMU become more similar over time? Is EMU sustainable in the long-run? Will EMU survive the global financial crisis? The contributors to this book are leading Political Scientists in the field, and draw on a wealth of research and experience. This book was published as a special issue of the Journal of European Public Policy.

Download or read book Payment Systems written by D. Rambure and published by Springer. This book was released on 2008-09-17 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Payment systems are changing profoundly through regulation, technology and competition from new entrants. This is a comprehensive introduction and reference on payment systems, covering their structure, international systems and settlements, and focusing on electronic transfers. Concludes with the future of the payments business.

Download or read book Governing Financial Services in the European Union written by Lucia Quaglia and published by Routledge. This book was released on 2010-02-25 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis that reached its peak in late 2008 has brought the importance of financial services regulation and supervision into the spotlight. This book examines the governance of financial services in the EU, asking who governs financial services in the EU, how and why, and explaining where the power lies in the policy-making process. It covers the main financial services: banking, securities, payments systems, clearing and settlement. Addressing the politics and public policy aspects of financial market integration, regulation and supervision in the European Union, this book conducts a theoretically-informed and empirically-grounded analysis of financial services governance from the establishment of Economic and Monetary Union (1999) and the launch of the Financial Services Action Plan (1999), to date. It also assesses the EU responses to the global financial crisis. Providing a reliable and unique insight into the politics of financial services regulation in the EU based on an extensive programme of interviews with policy makers and stakeholders across Europe, the book will be of great topical interest to students and scholars of European Union studies, political science and political economy.

Download or read book Analyzing the Economics of Financial Market Infrastructures written by Diehl, Martin and published by IGI Global. This book was released on 2015-08-17 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: The prosperity and stability of any economic structure is reliant upon a foundation of secure systems that regulate the movement of money across the globe. These structures have become an integral part of contemporary society by reducing monetary risk and increasing financial security. Analyzing the Economics of Financial Market Infrastructures is a pivotal reference source for the latest scholarly research on the current developments in financial systems and how these processes are evolving due to new regulations and technical advances. Featuring extensive coverage on a range of relevant topics on payment systems, central securities depositories, central counterparties, and trade repositories, this book is an essential reference source for professionals in the financial sector, analysts, IT professionals, and academicians concerned with emerging research on financial markets. This book features timely, research-based chapters on a variety of crucial topics including, but not limited to, payment timing, multi-layer networks, transaction simulations, payment system analysis, and regulation of financial marketplaces.

Download or read book Dalhuisen on Transnational and Comparative Commercial Financial and Trade Law Volume 6 written by Jan H Dalhuisen and published by Bloomsbury Publishing. This book was released on 2022-06-16 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: “... a wide-ranging, historically and comparatively very deep and comprehensive commentary, but which is also very contemporary and forward-looking on many or most of the issues relevant in modern transnational commercial, contract and financial transactions” (International and Comparative Law Quarterly) Volume 6 of this new edition deals with financial regulation of banks and banking activities and products. It critically reviews micro-prudential regulation, the need for macro-prudential supervision and an independent macro-prudential supervisor, the role of resolution authorities, the operation of the shadow banking system, and the extraterritorial reach and international recognition of financial regulation. The volume considers in particular the fallout from the 2008 financial crisis and the subsequent regulatory responses in the US and Europe. The complete set in this magisterial work is made up of 6 volumes. Used independently, each volume allows the reader to delve into a particular topic. Alternatively, all volumes can be read together for a comprehensive overview of transnational comparative commercial, financial and trade law.

Download or read book The Risk Controllers written by Peter Norman and published by John Wiley & Sons. This book was released on 2011-09-07 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Clearing houses, or CCPs, were among the very few organisations to emerge from the global financial crisis with their standing enhanced. In the chaotic aftermath of the bankruptcy of Lehman Brothers, they successfully completed trades worth trillions of dollars in a multitude of financial instruments across listed and over-the-counter markets, and so helped avert financial Armageddon. That success transformed the business of clearing. Governments and regulators around the world gave CCPs and the clearing services they provide a front-line role in protecting the global economy from future excesses of finance. CCPs, which mitigate risk in financial markets, responded by greatly expanding their activities, notably in markets for over-the-counter derivatives, and often in fierce competition with one another. In The Risk Controllers, journalist and author Peter Norman describes how CCPs operate, how they handled the Lehman default, and the challenges they now face. Because central counterparty clearing is a complex business with a long history that continues to influence decisions and structures even in today’s fast changing world, The Risk Controllers explores the development of CCPs and clearing from the earliest times to the present. It draws on the experiences of the people who helped to shape the business of clearing today. It sets the development of CCPs and clearing in the broader context of changes in society, politics and regulation. The book examines turning points, such as the 1987 stock market crash, that set clearing on a new path and the impact of long running trends, including the exponential growth of computer power and the ebb and flow of globalisation. Written in non-technical language, The Risk Controllers provides a unique and accessible guide to CCPs and clearing. It is essential reading for clearing professionals, legislators and regulators whose job it is to take this vitally important business into the future. “The recent crisis has, thankfully, renewed interest in the importance of central counterparties: how they can help preserve stability or, as Hong Kong showed in 1987, undermine stability if they are not super sound. Peter Norman’s book places the role of clearing houses in a historical context, and explains why the financial system’s plumbing matters so much. It should be read by anyone interested in building safer capital markets.” Paul Tucker, Deputy Governor Financial Stability, Bank of England

Download or read book Capitalism s Hidden Worlds written by Kenneth Lipartito and published by University of Pennsylvania Press. This book was released on 2020-01-24 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: A dynamic social history of shadow capitalism spanning the late nineteenth and twentieth centuries Observers see free markets, the relentless pursuit of profit, and the unremitting drive to commodify everything as capitalism's defining characteristics. These most visible economic features, however, obscure a range of other less evident, often unmeasured activities that occur on the margins and in the concealed corners of the formal economy. The range of practices in this large and diverse hidden realm encompasses traders in recycled materials and the architects of junk bonds and shadow banking. It includes the black and semi-licit markets that allow wealthy elites to avoid taxes and the unmeasured domestic and emotional labor of homemakers and home care workers. By some estimates, the unmeasured economic activity that occurs within the household, informal market, and underground economy amounts to a substantial portion of all economic activity in the world, as much as 30 percent in some countries. Capitalism's Hidden Worlds sheds new light on this shadowy economic landscape by reexamining how we think about the market. In particular, it scrutinizes the missed connections between the official, visible realm of exchange and the uncounted and invisible sectors that border it. While some hidden markets emerged in opposition to the formal economy, much of the obscured economy described in this volume operates as the other side of the legitimate, state-sanctioned marketplace. A variety of historical actors—from fortune tellers and forgers to tax lawyers and black market consumers—have constructed this unseen world in tandem with the observable public world of transactions. Others, such as feminist development economists and government regulators, have worked to bring the darkened corners of the economy to light. The essays in Capitalism's Hidden Worlds explore how the capitalist marketplace sustains itself, how it acquires legitimacy and even prestige, and how the marginalized and the dispossessed find ways to make ends meet. Contributors: Bruce Baker, Eileen Boris, Eli Cook, Hannah Frydman, James Hollis, Owen Hyman, Anna Kushkova, Christopher McKenna, Kenneth Mouré, Philip Scranton, Bryan Turo.