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Author: Roy C. Smith
Publisher:
ISBN:
Category :
Languages : en
Pages : 72
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Book Description
This paper examines the competitive dynamics of the securities industry in Europe and seeks to identify the major sources of competitive advantage for firms participating in the European industry in the future. It compares a variety of developments to date in the European market with those that have occurred in the United States over the past fifteen years to establish a benchmark position. It then attempts to assess what impact on the European securities industry the forthcoming adoption of a single European currency and Economic Monetary Union (EMU) will have. It restricts its examination, however, to the wholesale finance sector, focusing only on matters that effect markets for debt and equity securities that are issued or traded within Europe or across its borders, and related advisory services of investment banks and security firms. It does not address retail financial services, including brokerage in stocks, investment trusts or insurance, or retail banking services. Participants in the wholesale finance industry are broadly defined to include European universal banks and securities firms as well as all firms operating in Europe that are owned or controlled by non-Europeans. The aim is to create a composite picture of the European securities industry of the future and what will be required to succeed in it.
Author: Roy C. Smith
Publisher:
ISBN:
Category :
Languages : en
Pages : 72
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Book Description
This paper examines the competitive dynamics of the securities industry in Europe and seeks to identify the major sources of competitive advantage for firms participating in the European industry in the future. It compares a variety of developments to date in the European market with those that have occurred in the United States over the past fifteen years to establish a benchmark position. It then attempts to assess what impact on the European securities industry the forthcoming adoption of a single European currency and Economic Monetary Union (EMU) will have. It restricts its examination, however, to the wholesale finance sector, focusing only on matters that effect markets for debt and equity securities that are issued or traded within Europe or across its borders, and related advisory services of investment banks and security firms. It does not address retail financial services, including brokerage in stocks, investment trusts or insurance, or retail banking services. Participants in the wholesale finance industry are broadly defined to include European universal banks and securities firms as well as all firms operating in Europe that are owned or controlled by non-Europeans. The aim is to create a composite picture of the European securities industry of the future and what will be required to succeed in it.
Author: Jean Dermine
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 62
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Book Description
Author: Ingo Walter
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Edward B. Flowers
Publisher: Rowman & Littlefield
ISBN: 9780742513051
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
Describes the economic and capital market results of the institution of the single currency, the euro, in Europe after January 2000. Does it foreshadow increased capital market efficiency and labour migration, huge cross-border mergers and the division of the world into currency blocs?
Author: Dominique Servais
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 80
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Book Description
Author: Jean Dermine
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 70
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Book Description
Author: Mr.Alessandro Prati
Publisher: International Monetary Fund
ISBN: 1451848250
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This paper analyzes the structural implications of EMU for international capital markets. It discusses the potential size of euro capital markets and the existing roles of European currencies in international capital markets. The paper also examines the euro’s impact on international securities markets, including the role of the ECB, the evolution of EMU securities markets, and aspects of systemic risk management. The implications for wholesale and retail banking markets are also discussed, as are the broader implications of the introduction of the euro for changes in international capital flows, international portfolios, and by implication exchange rates.
Author:
Publisher:
ISBN:
Category : Euro
Languages : en
Pages : 0
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Book Description
Author: Commission of the European Communities
Publisher: Luxembourg : Office for Official Publications of the European Communities
ISBN:
Category : Capital
Languages : en
Pages : 86
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Book Description
Author: Daniel Gros
Publisher: John Wiley & Sons
ISBN: 0470842768
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
The authors predict that the impact will be far-reaching, leading to a more liquid, mature and efficient capital market. The structure of capital markets in Europe and the behaviour of actors in these markets will be fundamentally affected, leading to a more integrated market. For monetary union to achieve its real objective, policy makers will need to address a wide variety of outstanding issues, in particular the taxation of savings income, accounting standards, capital market regulation and financial supervision. The start of monetary union on 1 January 1999 launched a process of radical change in the structure of capital markets in Europe. Whereas previously, Europe had been fragmented into many diverse national markets, a single Euro capital market is now emerging. This book focuses on the long-term impact that the introduction of the euro will have on European capital markets and spells out implications for the financial sector and the wider economy. It discusses what further steps need to be taken to achieve a fully integrated market. In particular, the book examines: * The institutional and regulatory framework for European capital markets * The structure of European capital markets on the eve of EMU * The regional differences and the contrasts with the US capital market * The central role played by banks in European capital markets and the likelihood that a more market-based system may emerge * The implications of EMU for organised securities markets * The consequences for governance and policy, and more in particular for the taxation of savings income, securities market regulation and financial supervision
