The Business of Clearing Cash Equities in Europe: Market Dynamics and Trends

  • Giusy Chesini
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)


This chapter on European clearing houses aims to describe the current, unprecedented pace of change in this sector of the post-trading industry.


Stock Exchange Equity Market Derivative Market Financial Service Authority Clearing House 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. BNP Paribas Securities Services (2009) European Trading and Clearing Framework. Celent (2008) The Code of Conduct: Competition in the European Post-Trade Infrastructure.Google Scholar
  2. Chan, D. (2010) ‘Interoperability: is it worth the effort?’, in Global Financial Strategy, May, 1(11), 12.Google Scholar
  3. EuroCCP (2008) The Clearing Industry in Europe: Cost Comparison (EuroCCP: London).Google Scholar
  4. EuroCCP (2010) Recommendations for Reducing Risk among Interoperating CCPs, January (EuroCCP: London).Google Scholar
  5. European Commission (2006) ‘Competition in EU securities trading and posttrading’, Issues Paper, May (European Commission: Brussels).Google Scholar
  6. European Commission (2009) The Code of Conduct on Clearing and Settlement: Three Years of Experience (European Commission: Brussels).Google Scholar
  7. FESE, EACH, ECSDA (2006) European Code of Conduct for Clearing and Settlement Accessed 6th April 2011.
  8. OXERA (2009) Monitoring prices, costs and volumes of trading and post-trading activities, 1–10, July, Accessed on 6 April 2011.
  9. Ripatti, K. (2004) ‘Central counterparty clearing: constructing a framework for evaluation of risks and benefits’, Bank of Finland, Discussion Papers, no. 30 (Bank of Finland: Helsinki).Google Scholar
  10. Russo, D., Hart, T., Malaguti, M.C. and Papathanassiou C. (2004) ‘Governance of securities clearing and settlement systems’, ECB, Occasional Paper Series, no. 21 (European Central bank: Frankfurt).Google Scholar
  11. Schwartz, R.A. (2010) Micro Markets. A Market Structure Approach to Microeconomic Analysis (John Wiley and Sons: New Jersey).CrossRefGoogle Scholar
  12. Tumpel-Gugerell, G. (2006) ‘Issues Related to Central Counterparty Clearing: Opening Remarks’, in Federal Reserve Bank of Chicago, Economic Perspectives, 30(4), 32–6.Google Scholar

Copyright information

© Giusy Chesini 2011

Authors and Affiliations

  • Giusy Chesini

There are no affiliations available

Personalised recommendations