The Future Prospects for National Financial Markets and Trading Centres
This paper investigates the effects of the continuation of globalization and technological developments on the future of national-level financial markets and trading centres, particularly in smaller countries such as Canada. We foresee the development of a single global market in the most-liquid assets based on equity-market linkages. Thus, we see this global market being accessed by national-level trading centres. Moreover, we see a remaining role for national-level intermediated markets for less-liquid products. This could pose some problems as the scale of the latter could diminish over time.
|Date of creation:||2001|
|Date of revision:|
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- Berger, Allen N. & Demsetz, Rebecca S. & Strahan, Philip E., 1999.
"The consolidation of the financial services industry: Causes, consequences, and implications for the future,"
Journal of Banking & Finance,
Elsevier, vol. 23(2-4), pages 135-194, February.
- Allen N. Berger & Rebecca Demsetz & Philip E. Strahan, 1998. "The consolidation of the financial services industry: causes, consequences, and implications for the future," Finance and Economics Discussion Series 1998-46, Board of Governors of the Federal Reserve System (U.S.).
- William R. White, 2000. "What have we learned from recent financial crises and policy responses?," BIS Working Papers 84, Bank for International Settlements.
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