World of Exchanges

Adapting to a New Environment
Erscheinungsjahr 2007
ISBN: 978-1-84374-343-9
Verlag: Euromoney

Buch, Englisch, 170 Seiten

'A group of the top banks are launching a new trading platform for financial derivatives. This will compete with the region's exchanges. European legislation - ie, MiFID - aims to spur competition in financial services by tearing down the structures that block it (Financial Times, 6/02/08).

To read about stock exchanges and the challenges they face, buy World of Exchanges.'

Understand how recent changes in the regulatory environment have transformed the world of stock exchanges and left the once protected industry open to the most extreme forms of competition. Essential insight for traders, dealers, underwriters, investment bankers, security brokers and legal advisors involved in exchange activities.

Provides you with a detailed examination of:

- Current challenges and future implications for stock exchanges
- Cross-border mergers and alliances between stock exchanges
- Electronic trading
- Global derivative market competition
- Micro-exchanges
- Market integration in the post-trade industry
- U.S. securities regulation in a world of global stock exchanges
- MIFID and its effect on stock exchanges

Autoren/Hrsg.

Shojai, Shahin

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Internationale Finanzmärkte
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Börse, Rohstoffe
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Geldwirtschaft, Währungspolitik

Inhaltsverzeichnis

Chapter 1 - Exchanges - current challenges and future implications
Shahin Shojai, Director of Strategic Research, Capco

Chapter 2 - Cross-border mergers and alliances between exchanges: a global perspective
Iftekhar Hasan, Professor of Finance and Director of the Center for Financial Technology
Cary L. Wellington, Lally School of Management and Technology of the Rensselaer Polytechnic Institute
Tina Hasenpusch, Ph.D.-elect, European Business School
Heiko Schmiedel, Policy Expert, Directorate General Payment Systems and Market Infrastructure, European Central Bank

Chapter 3 - Electronic trading: rival or replacement for traditional floor-based exchanges?
Wayne H. Wagner - Senior Advisor, ITG Solutions Network, and Chairman, OM/NI, LLC.

Chapter 4 - The outlook for global derivative market competition
Jens Nystedt, Chief US FX Strategist, Deutsche Bank

Chapter 5- Electronic markets heat up; micro-exchanges arrive
Eric Benhamou, Founders and Head of Quantitative Developments Pricing Partners
Michel Everaert, Chief Information Officer-E-commerce, GFI Group
Thomas Serval, President & CEO, Baracoda SA

Part II: Challenges confronting exchanges

Chapter 6 - Market integration in the post-trade industry: lessons from Europe
Daniela Russo, Deputy Director General, Directorate General Payment Systems and Market Infrastructure, European Central Bank
Simonetta Rosati, Senior Market Infrastructure Expert, Directorate General Payment Systems and Market infrastructure, European Central Bank

Chapter 7 - U.S. securities regulation in a world of global exchanges
Reena Aggarwal, Deputy Dean and Professor of Finance, McDonough School of Business at Georgetown University
Allen Ferrell, Greenfield Professor of Securities Law, Harvard Law School
Jonathan Katz, former Secretary, U.S. Securities and Exchange Commission

Chapter 8 - MIFID and its effect on Exchanges
Simon Bennett, Managing Principal, Capco