Arbeitspapier
Links between securities settlement systems: An oligopoly theoretic approach
This paper presents a duopoly model of the securities settlement industry.Because pooling a large amount of payments can help in using liquidity efficiently, issuers prefer systems where a large number of securities are issued.If the central securities depositories establish a mutual link that enables investors to make transactions with foreign securities, cost savings can be achieved. However, these links may have unexpected effects on CSDs' pricing, and the issuers' share of the fee burden can increase substantially.It is not advisable to ban additional fees for using the link, as the CSDs might simply increase the fee for domestic transactions.
- ISBN
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952-462-018-9
- Language
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Englisch
- Bibliographic citation
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Series: Bank of Finland Discussion Papers ; No. 27/2002
- Classification
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Wirtschaft
Oligopoly and Other Imperfect Markets
Financial Institutions and Services: General
- Subject
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oligopoly
securities settlement systems
- Event
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Geistige Schöpfung
- (who)
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Kauko, Karlo
- Event
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Veröffentlichung
- (who)
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Bank of Finland
- (where)
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Helsinki
- (when)
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2002
- Handle
- Last update
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10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
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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
- Kauko, Karlo
- Bank of Finland
Time of origin
- 2002
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Interlinking securities settlement systems: A strategic commitment?
The microeconomics of innovation: Oligopoly theoretic analyses with applications to banking and patenting
Strategic challenges for exchanges and securities settlement
The mixed oligopoly of cross-border payment systems
Simulating interbank payments and securities settlement mechanism with the BoF-PSS2 simulator
Performance of international securities markets
Technological transformation and nonbank competition in a model of retail banking oligopoly
Economies of scale and technological development in securities depository and settlement systems
Securities market ATSs concepts, their roles and related policy issues
Liquidity, risks and speed in payment and settlement systems: a simulation approach