Advanced Search
MyIDEAS: Login to save this article or follow this journal

The evolution of central securities depositaries in Europe : stable functions in a changing environment

Contents:

Author Info

  • Dominique Chabert
  • Gisèle Chanel-Reynaud
Registered author(s):

    Abstract

    [eng] Central Securities Depositories (CSD) play two roles in the national framework : securities ultimate custody and securities settlement (operating acting securities settlement systems -SSS). Now, the passage from a national space to a European domestic one, reveals overcapacities and interferences between the different actors (CSD, ICSD and global custodians) of this post-trade market. This article examines CSD’s current functions and the manner in which they operate on a broader space. We put special emphasis on the « custody/authentification » function on which market confidence lies. We also raise the question of what institution is the most efficient in the new domestic area. We conclude that, whatever the solution, a strong impetus of the European dimension is needed (through a « domestic » CSD or a European Regulator). . JEL classification : F36, G2, G28

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://dx.doi.org/doi:10.3406/ecofi.2006.4452
    Download Restriction: no

    File URL: http://www.persee.fr/articleAsPDF/ecofi_1767-4603_2006_num_82_1_4452/ecofi_1767-4603_2006_num_82_1_4452.pdf?mode=light
    Download Restriction: no

    Bibliographic Info

    Article provided by Programme National Persée in its journal Revue d'économie financière (English ed.).

    Volume (Year): 82 (2006)
    Issue (Month): 1 ()
    Pages: 203-220

    as in new window
    Handle: RePEc:prs:recofi:ecofi_1767-4603_2006_num_82_1_4452

    Note: DOI:10.3406/ecofi.2006.4452
    Contact details of provider:
    Web page: http://www.persee.fr/web/revues/home/prescript/revue/ecofi

    Related research

    Keywords:

    Find related papers by JEL classification:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Pagano, Marco & von Thadden, Ernst-Ludwig, 2004. "The European Bond Markets Under EMU," CEPR Discussion Papers 4779, C.E.P.R. Discussion Papers.
    2. Kauko, Karlo, 2005. "Interlinking securities settlement systems: a strategic commitment?," Working Paper Series 0427, European Central Bank.
    3. Patrick Van Cayseele, 2004. "Competition and the Organisation of the Clearing and Settlement Industry," Center for Economic Studies - Discussion papers ces0413, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
    4. Heiko Schmiedel & Andreas Schönenberger, 2005. "Integration of securities market infrastructures in the euro area," Occasional Paper Series 33, European Central Bank.
    5. Iori, Giulia, 2004. "An analysis of systemic risk in alternative securities settlement architectures," Working Paper Series 0404, European Central Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_1767-4603_2006_num_82_1_4452. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Equipe PERSEE).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.