EconStor >
Goethe-Universität Frankfurt am Main >
Fachbereich Wirtschaftswissenschaften, Universität Frankfurt a. M. >
Working Paper Series: Finance and Accounting, Universität Frankfurt a. M. >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/23416
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorSerifsoy, Barisen_US
dc.contributor.authorWeiss, Marcoen_US
dc.date.accessioned2009-01-29T16:05:29Z-
dc.date.available2009-01-29T16:05:29Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/23416-
dc.description.abstractDespite a lot of re-structuring and many innovations in recent years, the securities transaction industry in the European Union is still a highly inefficient and inconsistently configured system for cross-border transactions. This paper analyzes the functions performed, the institutions involved and the parameters concerned that shape market and ownership structure in the industry. Of particular interest are microeconomic incentives of the main players that can be in contradiction to social welfare. We develop a framework and analyze three consistent systems for the securities transaction industry in the EU that offer superior efficiency than the current, inefficient arrangement. Some policy advice is given to select the 'best' system for the Single European Financial Market.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesWorking paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting 151en_US
dc.subject.jelP51en_US
dc.subject.jelG34en_US
dc.subject.jelG28en_US
dc.subject.jelL22en_US
dc.subject.jelF36en_US
dc.subject.ddc330en_US
dc.subject.keywordtradingen_US
dc.subject.keywordclearingen_US
dc.subject.keywordsettlementen_US
dc.subject.keywordstraight-through processingen_US
dc.subject.keywordcentral counterpartyen_US
dc.subject.keywordregulationen_US
dc.subject.keywordefficiencyen_US
dc.subject.keywordEUen_US
dc.subject.keywordconsistent systemsen_US
dc.subject.stwWertpapierhandelen_US
dc.subject.stwInternationaler Finanzmarkten_US
dc.subject.stwWertpapiergeschäften_US
dc.subject.stwWirtschaftliche Effizienzen_US
dc.subject.stwRegulierungen_US
dc.subject.stwEU-Staatenen_US
dc.titleSettling for Efficiency: A Framework for the European Securities Transactions Industryen_US
dc.typeWorking Paperen_US
dc.identifier.ppn484582291en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Paper Series: Finance and Accounting, Universität Frankfurt a. M.

Files in This Item:
File Description SizeFormat
902.pdf377.59 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.