Arbeitspapier
Competition in the post-trade markets: A network economic analysis of the securities business
In order to analyse the role of competition in the post-trade markets a normative network economic analysis of the securities business is provided. The theory of monopolistic bottlenecks constitutes the theoretical reference point for this analysis in order to identify stable network specific market power. It is shown that clearing and settlement are competitive value-added telecommunications services and therefore do not justify ex ante market power regulation. Precondition for competition on the markets for clearing and settlement is nondiscriminatory access to the complementary technical regulatory function - the notary function (authenticity, registry, links between competing end custodians).
- Language
-
Englisch
- Bibliographic citation
-
Series: Diskussionsbeitrag ; No. 101 [rev.]
- Classification
-
Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Knieps, Günter
- Event
-
Veröffentlichung
- (who)
-
Albert-Ludwigs-Universität Freiburg, Institut für Verkehrswissenschaft und Regionalpolitik
- (where)
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Freiburg i. Br.
- (when)
-
2005
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Knieps, Günter
- Albert-Ludwigs-Universität Freiburg, Institut für Verkehrswissenschaft und Regionalpolitik
Time of origin
- 2005
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