Competitive Clearing in Europe: Development of a Performance Measurement System in a Changing Environment

The 6th NTU International Conference on Economics, Finance and Accounting, Taipei, Taiwan

18 Pages Posted: 19 May 2008 Last revised: 16 Mar 2011

See all articles by Torsten Schaper

Torsten Schaper

Deutsche Börse Group

Michael Chlistalla

Goethe University Frankfurt Faculty of Economics and Business Administration

Date Written: 2008

Abstract

European clearing houses are facing competition on their home markets for the first time. In order to meet this new challenge, the management of a clearing house needs to identify its stakeholders and their interests and must define a strategy including financial and non-financial aims, which have to be clearly communicated internally. We introduce the Balanced Scorecard as a funded and holistic approach for the management of a clearing house. To meet the specifics of the clearing industry, we present an adjustment and extension of Kaplan and Norton's original concept. Particularly risk management requires detailed consideration. We therefore add risk management as a separate perspective and integrate competition and IT into the modified Balanced Scorecard.

Keywords: Competitive Clearing, Performance Measurement

Suggested Citation

Schaper, Torsten and Chlistalla, Michael, Competitive Clearing in Europe: Development of a Performance Measurement System in a Changing Environment (2008). The 6th NTU International Conference on Economics, Finance and Accounting, Taipei, Taiwan. Available at SSRN: https://ssrn.com/abstract=1134797 or http://dx.doi.org/10.2139/ssrn.1134797

Torsten Schaper (Contact Author)

Deutsche Börse Group ( email )

Frankfurt, 60485
Germany

Michael Chlistalla

Goethe University Frankfurt Faculty of Economics and Business Administration ( email )

Grueneburgplatz 1
Frankfurt am Main, 60323
Germany

HOME PAGE: http://www.efinancelab.de/no_cache/team/?user_wiwipubs_pi2[showUid]=686

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