Resource title

European financial market integration: the problem of clearance and settlements

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Resource description

In this paper, the economics of financial market utilities in Europe - notably those involved in the securities clearance and settlement process - are examined in the context of the creation of an efficient, unified pan-European capital market. Various models of cross-border clearance and settlement are considered, with the conclusion that the multiple-access model among national and international transactions utilities and custodians is probably in the best interests of end-users and financial market efficiency

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Resource language

en

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application/pdf

Resource resource URL

http://flora.insead.edu/fichiersti_wp/Inseadwp1995/95-63.pdf

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Copyright INSEAD. All rights reserved