EconStor >
Albert-Ludwigs-Universität Freiburg im Breisgau >
Institut für Verkehrswissenschaft und Regionalpolitik, Universität Freiburg >
Diskussionsbeiträge, Inst. f. Verkehrswissenschaft u. Regionalpolitik, Universität Freiburg >

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

http://hdl.handle.net/10419/47436
  
Title:Competition in the post-trade markets: A network economic analysis of the securities business PDF Logo
Authors:Knieps, Günter
Issue Date:2005
Series/Report no.:Diskussionsbeiträge // Institut für Verkehrswissenschaft und Regionalpolitik 101 [rev.]
Abstract:In order to analyse the role of competition in the post-trade markets a normative network economic analysis of the securities business is provided. The theory of monopolistic bottlenecks constitutes the theoretical reference point for this analysis in order to identify stable network specific market power. It is shown that clearing and settlement are competitive value-added telecommunications services and therefore do not justify ex ante market power regulation. Precondition for competition on the markets for clearing and settlement is nondiscriminatory access to the complementary technical regulatory function - the notary function (authenticity, registry, links between competing end custodians).
older Version:http://hdl.handle.net/10419/23015
Document Type:Working Paper
Appears in Collections:Diskussionsbeiträge, Inst. f. Verkehrswissenschaft u. Regionalpolitik, Universität Freiburg

Files in This Item:
File Description SizeFormat
663377374.pdf172.9 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/47436

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