Securities Trading and Settlement in Europe: Issues and Outlook

6 Pages Posted: 16 Mar 2005

See all articles by Linda S. Goldberg

Linda S. Goldberg

Federal Reserve Bank of New York; National Bureau of Economic Research (NBER)

John Kambhu

Federal Reserve Bank of New York

Asani Sarkar

Federal Reserve Bank of New York

James M. Mahoney

Federal Reserve Bank of New York

Lawrence J. Radecki

Federal Reserve Banks - Federal Reserve Bank of New York

Abstract

The institutional arrangements for trading and settling securities in Europe remain fragmented along national lines, making cross-border trading costly. Consolidation efforts are under way, however, and major market centers have now emerged in France, Germany, and the United Kingdom. Although the restructuring of trading and settlement systems should bring the European Community closer to its goal of a single capital market, changes in corporate governance and the competitive environment may raise significant regulatory issues.

Keywords: securities markets, clearing and settlement, stock exchanges, securities trading, securities settlement

JEL Classification: G15, G24

Suggested Citation

Goldberg, Linda S. and Kambhu, John and Sarkar, Asani and Mahoney, James M. and Radecki, Lawrence J., Securities Trading and Settlement in Europe: Issues and Outlook. Current Issues in Economics and Finance, Vol. 8, No. 4, April 2002. Available at SSRN: https://ssrn.com/abstract=687145

Linda S. Goldberg (Contact Author)

Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045
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212-720-6831 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
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John Kambhu

Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045
United States

Asani Sarkar

Federal Reserve Bank of New York ( email )

Research Department
33 Liberty Street
New York, NY 10045
United States
212-720-8943 (Phone)
212-720-1582 (Fax)

HOME PAGE: http://www.newyorkfed.org/research/economists/sarkar/pub.html

James M. Mahoney

Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045
United States
212-720-8910 (Phone)
212-720-1577 (Fax)

Lawrence J. Radecki

Federal Reserve Banks - Federal Reserve Bank of New York ( email )

33 Liberty Street
33 Liberty Street
New York, NY 10045-0001
United States
212-720-5656 (Phone)

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