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Achieving Market Integration : Best Execution, Fragmentation and the Free Flow of Capital - Scott McCleskey

Achieving Market Integration

Best Execution, Fragmentation and the Free Flow of Capital

Hardcover Published: 2nd January 2004
ISBN: 9780750657457
Number Of Pages: 176

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Best execution, market integration, and other major financial market issues have traditionally been dealt with as separate matters requiring individual solutions. In Achieving Market Integration the author demonstrates the interrelated nature of these and other imperative problems, and sensibly reduces them to their common fundamental principles. Beginning with an in-depth examination of best execution in today's multiple-market environment, the book moves logically into an examination of market structure and the problems of achieving genuine integration. The book makes the case that order interaction is fundamental to addressing each of these issues, and develops a unified regulatory approach to achieve true market integration based on intermarket linkages and a cross-market best execution policy. This unique approach culminates in a coherent set of policy recommendations and an innovative framework for assessing the effectiveness of future policy proposals.
*The first book on this important subject for the finance community
*Explains the aims and proposes solutions to the difficulties of establishing a stock market that integrates the diverse national exchanges around Europe
*Provides a discussion point for those lobbying the European Commission on formulating regulation for an integrated European capital market

Industry Reviews

"A thorough and robust critique of the challenges facing European financial services policy makers as they pursue their mission for an integrated securities market."

Lee Hodgkinson, Member of the Management Board, SWX Swiss Exchange

Best Execution: Is this regulation necessary?
Fundamental issues
Putting it together- Elements of a sound best execution policy
Comparing approaches
A legal approach
Technological considerations
Market Integration: Liquidity, Market Fragmentation and Price Formation
Fragmentation and Concentration
Clearing and Settlement
Old Solutions to New Problems- Historical Attempts to Integrate Markets
Making Integration Work- The European Case
Making Market Integration Work: State vs. Market- Who regulates the integrated market?
Conclusions
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780750657457
ISBN-10: 0750657456
Series: Securities Institute Global Capital Markets
Audience: General
Format: Hardcover
Language: English
Number Of Pages: 176
Published: 2nd January 2004
Publisher: BUTTERWORTH-HEINEMANN
Country of Publication: GB
Dimensions (cm): 22.91 x 15.19  x 1.12
Weight (kg): 0.4

Earn 755 Qantas Points
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