Current Issues in Economics and Finance

Securities Trading and Settlement in Europe: Issues and Outlook

April 2002 Volume 8, Number 4
JEL classification: G15, G24

Authors: Linda Goldberg, John Kambhu, James M. Mahoney, Lawrence Radecki, and Asani Sarkar

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.

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