Product Type: Market Research Report
Published by: TowerGroup
Published: April 2005
Product Code: R301-948Description Clearing and settlement have always been afterthoughts in the securities industry worldwide. But enhancing these processes has become such a high priority in Europe as part of the goal to create a pan-European financial market that the back office has suddenly become prominent. Regulators, industry participants, utilities, technology firms, and now even front-office personnel are involved. At stake are crucial issues like the fate of Europe's securities industry, the competitiveness of its firms globally, and the trust and faith of investors in its markets. TowerGroup recognizes the importance of EU clearing and settlement and focuses this Research Note on the key aspects of the subject, discussing the implications for the wider capital markets industry.Table of Contents - TowerGroup Take-Aways
- Report Coverage
- Vision
- What are the central tenets of European clearing and settlement?
- What are the implications for European trading?
- European Clearing and Settlement
- Exhibit 1: US and EU Costs for Clearing and Settlement (2004)
- Improving European Clearing and Settlement: Major Tenets
- Enhance Efficiency
- Eliminate Fragmentation
- Harmonize Rules, Regulations, Practices, and Standards
- Industry Initiatives Focused on EU Clearing and Settlement
- Exhibit 2: Major Initiatives in European Clearing and Settlement
- The Future of European Clearing and Settlement
- Exhibit 3: Top Seven Barriers to EU Clearing and Settlement (2005)
- Balancing Market Forces and Regulatory Intervention
- Need to Ensure Competition and Restrict Anticompetitive Behavior
- Inevitable Impact on Structural Change and Industry Consolidation
- Future Structure of a Pan-European Market
- Exhibit 4: Potential Structure of European Clearing and Settlement (c. 2010)
- Summary
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