Clearing and settlement in Europe - Dermot Turing

"This book is to be recommended to all who want to understand the working of the financial system and its likely evolution ahead of us."Alberto Giovannini, former chief policy advisor of the European Commission's Clearance and Settlement Advisory GroupUnlike other areas of financial services, the law of clearing and settlement is not harmonised or subject to all-embracing EU directives, which has allowed diverse national approaches to develop. Overlaid on that are themes of EU policy, including stimulating competition, promoting systemic stability, and creating a single market in financial services. The themes do not work consistently towards the same objectives, creating a complex subject in which risks and rights are poorly understood.
Clearing and Settlement in Europe aims to clarify and explain this increasingly important area for banks in a practical and accessible way. Contents includes: Structure of the clearing and settlement industry; Law of clearing and settlement; Risk management; Operations.