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Clearing and Settlement, 3rd Edition

Clearing and Settlement, 3rd Edition

  • 作者:
  • 出版商: Bloomsbury Professional (formerly Tottel Publishing)
  • ISBN: 9781526514967
  • 出版时间 February 2021
  • 规格: Hardback
  • 适应领域: Europe ? 免责申明:
    Countri(es) stated herein are used as reference only

List Price: ¥2,962.05

¥2,873.19 Save ¥88.86 (3%)

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  • 描述 
  • 大纲 
  • 作者 
  • 评论
  • 详细

    The post-trading industry is one in which financial firms make money and one in which risk issues need careful management. Reliable payment, clearing and settlement structures are perceived to be essential to enable financial firms to withstand shocks. A great deal of the cost of trading and cross-border investment is attributed to the very complex process of clearing and settlement.

    This book describes and explains:

    • what happens in clearing and settlement, and the roles of (and risks assumed by) the various participants in the post-trade marketplace
    • the law applicable to infrastructures, how they are are regulated, and the other topographical features of their legal landscape
    • the legal and practical aspects of risk management and operations of infrastructures
    • the risks faced by participants in payment, clearing and settlement systems - the agent banks - along with practical and operational issues which they face in their roles

    Fully revised, updates for the 3rd edition include:

    • implications and impact of Brexit
    • CPMI and IOSCO paper on central counterparty default (CCP) management auctions
    • cyber-security and the resilience of financial market infrastructures (FMIs) and the wider market ecosystem.
  • PART I: PROCESSES
    Chapter 1: Introduction to Clearing and Settlement
    Chapter 2: What Happens in Clearing and Settlement
    Chapter 3: Trading
    Chapter 4: Post-trade Support Services
    Chapter 5: Cash
    Chapter 6: Securities

    PART II: REGULATION
    Chapter 7: International Regulatory Standards
    Chapter 8: Regulation of Infrastructures in the United Kingdom
    Chapter 9: Legal Form and Governance of Infrastructures
    Chapter 10: The Clearing Imperative
    Chapter 11: Competition Law
    Chapter 12: Prudential Regulation of Agent Banks

    PART III: RISK AND OPERATIONS
    Chapter 13: Insolvency
    Chapter 14: Failure and Rehabilitation of Infrastructures
    Chapter 15: Interoperability
    Chapter 16: Risk Management in Payment Systems
    Chapter 17: Risk Management at CCPs
    Chapter 18: Risk Management at CSDs
    Chapter 19: Risk Management at the Agent Bank
    Chapter 20: Dividends, Corporate Actions and Voting Rights
    Chapter 21: Securities Lending
    Chapter 22: Tax

  • Dermot Turing is a Partner at Clifford Chance in the International Financial Services and Markets Group

  • “This book is to be recommended to all who want to understand the working of the financial system and its likely evolution ahead of us.”
    Alberto Giovannini, former chief policy advisor of the European Commission’s Clearance and Settlement Advisory Group

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