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Author: Valter Lazzari
Publisher:
ISBN: 9788823842809
Category : Business & Economics
Languages : en
Pages : 277
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Book Description
Author: Valter Lazzari
Publisher:
ISBN: 9788823842809
Category : Business & Economics
Languages : en
Pages : 277
Get Book Here
Book Description
Author: Valter Lazzari
Publisher: EGEA spa
ISBN: 8823872790
Category : Business & Economics
Languages : en
Pages : 195
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Book Description
This book presents the results of new research promoted by Emittenti Titoli on the evolutionary trends in the European securities industry, with some special regard to the Italian financial market. The studies collected in the volume deal with the costs and quality of listing, trading, post-trading and regulatory services offered by exchanges, other trading platforms, central depositories, intermediaries and regulatory agencies, from the viewpoint of the issuers. They shed light on some topical problems that issuers must confront when they decide to go and stay public.
Author: Phoebus Athanassiou
Publisher: Kluwer Law International B.V.
ISBN: 904114465X
Category : Law
Languages : en
Pages : 384
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Book Description
While hedge funds have been part and parcel of the global asset management landscape for well over fifty years, it is only relatively recently that they came to prominence as one of the fastest growing and most vigorous sub-sectors of the financial services industry. Despite their growing significance for global and European financial markets, hedge funds continue enjoying a sui generis regulatory status. The ongoing credit crisis and its lessons for the wisdom of unregulated or loosely regulated pockets of financial activity raise, with renewed urgency, the issue of deciding how long for the relative regulatory immunity of hedge funds is to be tolerated in the name of financial innovation. This well-thought-out book, the first of its kind in this particular field, examines the case for the European onshore hedge fund industry’s regulation, making concrete proposals for its normative future. Following a detailed account of the ‘established’ regulatory systems in Ireland and Luxembourg, as well as of the ‘emerging’ hedge fund jurisdictions in Italy, France, Spain and Germany, and of the regulatory treatment of hedge funds in the UK, this book examines to what extent the continuing exclusion of hedge funds from harmonized European regulation is defensible, whether their differences to traditional asset management products justify their distinct regulatory treatment and, ultimately, if their EU-wide regulation is possible and, if so, what form this should take. This book offers enormously valuable insights into all facets of the subject of the regulation of hedge funds, including: the legitimacy of the public policy interest in their activities; the conceptual underpinnings and systemic stability emphasis of a realistic hedge fund regulatory scheme; the main parameters of a workable onshore hedge fund regulatory framework; the role of investor protection and market integrity as part of a holistic hedge fund regulatory scheme; the possible use of the UCITS framework as a foundation for the EU-wide regulation of hedge funds; the MiFID’s impact on the regulatory future of the European hedge fund industry; existing cross-jurisdictional differences and similarities in the normative treatment of hedge funds within the EU; hitherto initiatives and recommendations of the Community institutions and bodies; and the need for more efficient co-operation and information-sharing arrangements amongst national supervisors for the monitoring of the cross-border risks inherent in the activities of hedge funds. As the first ever comprehensive account of the profile, main features and normative future of the contemporary global and European hedge fund markets – including a systematic inquiry into the conceptual underpinnings of hedge fund regulation and a detailed examination of the European hedge fund industry’s treatment under Community and domestic law – this book represents a major contribution to the literature on hedge funds and their regulation which, through its concrete proposals for the onshore industry’s regulation and its clear analysis of the conditions necessary for their implementation, should be of extraordinary value to policymakers, supervisors and academics alike.
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: Torsten Schaper
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
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Book Description
Despite many innovations and restructuring in the last years, the securities clearing and settlement industry in Europe is still said to be highly inefficient for cross-border transactions. This paper provides a fact based overview of the market, regulation, and recent developments that aim to improve the efficiency of clearing and settlement in Europe. The European code of conduct for clearing and settlement and TARGET2-Securities are identified as primary concerns in this industry. The code of conduct for clearing and settlement, initiated by the European Commission, intends to improve price transparency, interoperability, and service unbundling. The phased course of action of the code of conduct is presented. An analysis of the current implementation status of the code of conduct shows potentials for improvements. TARGET2-Securities, as technical platform for settlement of securities in Europe, provided by Eurosystem, could have a significant impact on the settlement of securities in Europe. The importance of the participation of all central securities depositories for the success of the platform is shown by a simulation. The different approaches for improving efficiency in cross-border clearing and settlement are compared with each other. TARGET2-Securities could create a monopolistic infrastructure for settlement which stands in contrast to the code of conduct.
Author: Manuela Geranio
Publisher: Springer
ISBN: 3319210270
Category : Business & Economics
Languages : en
Pages : 137
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Book Description
This book describes the dramatic changes that have occurred in the exchange industry during the past two decades. The strategies adopted by major world exchanges during this period are explained and the roles of multilateral trading systems and over-the-counter (OTC) players are clearly described, highlighting their economics and their interconnections with traditional exchanges. Up-to-date, comprehensive comparisons are made of the performances of the main exchanges, and important governance issues are considered. In addition, threats and opportunities for major types of trading venue, deriving either from new regulatory approaches or from the surge in new markets, are presented and discussed with a view to forecasting future developments in the secondary market industry.The background to the book is the strong erosion in traditional profit drivers for exchanges produced by the progress in communications and trading technology. In many countries, regulation has reduced barriers to entry in the equity field, facilitating a surge in new players and a shift of liquidity toward alternative trading platforms and dark pools.
Author: Daniel Veit
Publisher: Springer Science & Business Media
ISBN: 3540785507
Category : Business & Economics
Languages : en
Pages : 202
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Book Description
This book contains the revised papers of the 3rd International Workshop on Enterprise Applications and Services in the Finance Industry, FinanceCom 2007. It covers innovative applications of novel technology in banking and finance.
Author: Jean-Pierre Casey
Publisher: CEPS
ISBN: 9290795964
Category : Business & Economics
Languages : en
Pages : 142
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Book Description
Assessing regulatory measures taken at the EU level that impact European bond markets, this book examines the desirability, utility, and feasibility of certain policy measures.
Author:
Publisher:
ISBN:
Category : Brokers
Languages : en
Pages : 718
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Book Description
Author: United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy
Publisher:
ISBN:
Category : Political Science
Languages : en
Pages : 160
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Book Description
