Financial Market Infrastructures

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Handbook of Key Global Financial Markets, Institutions, and Infrastructure

Author : Gerard Caprio,Douglas W. Arner,Thorsten Beck,Charles W. Calomiris,Larry Neal,Nicolas Véron
Publisher : Academic Press
Page : 635 pages
File Size : 55,6 Mb
Release : 2012-11-27
Category : Business & Economics
ISBN : 9780123978738

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Handbook of Key Global Financial Markets, Institutions, and Infrastructure by Gerard Caprio,Douglas W. Arner,Thorsten Beck,Charles W. Calomiris,Larry Neal,Nicolas Véron Pdf

This title begins its description of how we created a financially-intergrated world by first examining the history of financial globalization, from Roman practices and Ottoman finance to Chinese standards, the beginnings of corporate practices, and the advent of efforts to safeguard financial stability.

Recommendations for Central Counterparties

Author : Group of Ten. Committee on Payment and Settlement Systems
Publisher : Unknown
Page : 80 pages
File Size : 47,8 Mb
Release : 2004
Category : Clearing of securities
ISBN : IND:30000116787171

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Recommendations for Central Counterparties by Group of Ten. Committee on Payment and Settlement Systems Pdf

Financial Markets and Institutions

Author : Jakob de Haan,Sander Oosterloo,Dirk Schoenmaker
Publisher : Cambridge University Press
Page : 497 pages
File Size : 53,5 Mb
Release : 2012-06-28
Category : Business & Economics
ISBN : 9781107025943

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Financial Markets and Institutions by Jakob de Haan,Sander Oosterloo,Dirk Schoenmaker Pdf

Second edition of a successful textbook that provides an insightful analysis of the world financial system.

Switzerland: Technical Note-Oversight, Supervision, and Risk Management of Financial Market Infrastructures

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 37 pages
File Size : 41,9 Mb
Release : 2014-09-03
Category : Business & Economics
ISBN : 9781498312752

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Switzerland: Technical Note-Oversight, Supervision, and Risk Management of Financial Market Infrastructures by International Monetary Fund. Monetary and Capital Markets Department Pdf

Switzerland: Technical Note-Oversight, Supervision, and Risk Management of Financial Market Infrastructures.

Introduction to Payments and Financial Market Infrastructures

Author : Ulrich Bindseil,George Pantelopoulos
Publisher : Springer Nature
Page : 160 pages
File Size : 43,7 Mb
Release : 2023-11-29
Category : Business & Economics
ISBN : 9783031395208

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Introduction to Payments and Financial Market Infrastructures by Ulrich Bindseil,George Pantelopoulos Pdf

Payments and financial market infrastructures are vital components of modern economies, yet they have often been overlooked by economists. However, any economic exchange, including financial market transactions, is matched by a payment leg, and the safety, efficiency, and immediacy of the payment, and the problem of linking the two legs of the transaction (“delivery-vs-payment”), remain universal challenges. The consequences of inefficiencies or interruptions in payment and settlement systems have immediate and significant impacts on the real economy. Moreover, payments and financial market infrastructures are also a matter of strategic importance for nation-states, and being excessively dependent on foreign providers has been proven to be a significant risk, as they can be “weaponized." This book provides a concise yet thorough introduction to payments and financial market infrastructures, exploring various types of risks, retail payments, payment systems, cross-border payments, central counterparties, FX operations, and central securities depositories. The final chapter investigates payment innovations, including unbacked crypto-assets (e.g. Bitcoin), stablecoins, and central bank digital currencies. The text outlines key activities and risk management frameworks, as well as examining the operational mechanics of different payment systems. The book emphasizes the importance of understanding the nature of transfer of financial claims and liabilities through the process of payment and settlement, providing financial account representations of payments wherever useful. The book concludes that the payment and financial market infrastructure space has been shaken by recent innovations, which are expected to lead to seismic shifts in payment technology, practices, and market structures.

Principles for Financial Market Infrastructures: Disclosure Framework and Assessment Methodology

Author : Group of Ten. Committee on Payment and Settlement Systems,International Organization of Securities Commissions
Publisher : Unknown
Page : 101 pages
File Size : 40,6 Mb
Release : 2012
Category : Accounting
ISBN : 929131899X

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Principles for Financial Market Infrastructures: Disclosure Framework and Assessment Methodology by Group of Ten. Committee on Payment and Settlement Systems,International Organization of Securities Commissions Pdf

"The Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) have published a disclosure framework and assessment methodology for their Principles for financial market infrastructures (PFMIs), the new international standards for financial market infrastructures: The disclosure framework is intended to promote consistent and comprehensive public disclosure by FMIs in line with the requirements of the PFMIs; and the assessment methodology provides guidance for monitoring and assessing observance with the PFMIs. The disclosure framework and assessment methodology were issued for public consultation in April as two separate documents. The final versions being issued now as Principles for financial market infrastructures: disclosure framework and assessment methodology have been revised in light of the comments received during that consultation. Given that disclosure and assessment are closely related, the CPSS and IOSCO have revised the disclosure framework so that it more closely mirrors the assessment methodology and combined the two documents into one for the final versions. This is also in line with comments received during the consultation. The disclosure framework and the assessment methodology promote consistent disclosures of information by FMIs and consistent assessments by international financial institutions and national authorities. The assessment methodology is primarily intended for use by external assessors at the international level, in particular the International Monetary Fund and the World Bank. It also provides a baseline for national authorities to assess observance of the principles by the FMIs under their oversight or supervision and to self-assess the way they discharge their own responsibilities as regulators, supervisors, and overseers. The PFMIs are new international standards for payment, clearing and settlement systems, including central counterparties, that were published in April as Principles for financial market infrastructures (PFMIs). The PFMIs are designed to ensure that the infrastructure supporting global financial markets is robust and thus well placed to withstand financial shocks."--Abstract from publisher's website.

Analyzing the Economics of Financial Market Infrastructures

Author : Diehl, Martin
Publisher : IGI Global
Page : 411 pages
File Size : 48,5 Mb
Release : 2015-08-17
Category : Business & Economics
ISBN : 9781466687462

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Analyzing the Economics of Financial Market Infrastructures by Diehl, Martin Pdf

The prosperity and stability of any economic structure is reliant upon a foundation of secure systems that regulate the movement of money across the globe. These structures have become an integral part of contemporary society by reducing monetary risk and increasing financial security. Analyzing the Economics of Financial Market Infrastructures is a pivotal reference source for the latest scholarly research on the current developments in financial systems and how these processes are evolving due to new regulations and technical advances. Featuring extensive coverage on a range of relevant topics on payment systems, central securities depositories, central counterparties, and trade repositories, this book is an essential reference source for professionals in the financial sector, analysts, IT professionals, and academicians concerned with emerging research on financial markets. This book features timely, research-based chapters on a variety of crucial topics including, but not limited to, payment timing, multi-layer networks, transaction simulations, payment system analysis, and regulation of financial marketplaces.

Simulation in Computational Finance and Economics: Tools and Emerging Applications

Author : Alexandrova-Kabadjova, Biliana
Publisher : IGI Global
Page : 378 pages
File Size : 44,9 Mb
Release : 2012-08-31
Category : Business & Economics
ISBN : 9781466620124

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Simulation in Computational Finance and Economics: Tools and Emerging Applications by Alexandrova-Kabadjova, Biliana Pdf

Simulation has become a tool difficult to substitute in many scientific areas like manufacturing, medicine, telecommunications, games, etc. Finance is one of such areas where simulation is a commonly used tool; for example, we can find Monte Carlo simulation in many financial applications like market risk analysis, portfolio optimization, credit risk related applications, etc. Simulation in Computational Finance and Economics: Tools and Emerging Applications presents a thorough collection of works, covering several rich and highly productive areas of research including Risk Management, Agent-Based Simulation, and Payment Methods and Systems, topics that have found new motivations after the strong recession experienced in the last few years. Despite the fact that simulation is widely accepted as a prominent tool, dealing with a simulation-based project requires specific management abilities of the researchers. Economic researchers will find an excellent reference to introduce them to the computational simulation models. The works presented in this book can be used as an inspiration for economic researchers interested in creating their own computational models in their respective fields.

Automating Finance

Author : Juan Pablo Pardo-Guerra
Publisher : Cambridge University Press
Page : 375 pages
File Size : 48,7 Mb
Release : 2019-05-16
Category : Business & Economics
ISBN : 9781108496421

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Automating Finance by Juan Pablo Pardo-Guerra Pdf

Explains how stock markets became automated through the work of invisible technologists, redefining the fabric of finance for the twenty-first century.

The Infrastructure Finance Challenge

Author : Ingo Walter
Publisher : Open Book Publishers
Page : 134 pages
File Size : 46,6 Mb
Release : 2016-11-21
Category : Business & Economics
ISBN : 9781783742967

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The Infrastructure Finance Challenge by Ingo Walter Pdf

Infrastructure and its effects on economic growth, social welfare, and sustainability receive a great deal of attention today. There is widespread agreement that infrastructure is a key dimension of global development and that its impact reaches deep into the broader economy with important and multifaceted implications for social progress. At the same time, infrastructure finance is among the most complex and challenging areas in the global financial architecture. Ingo Walter, Professor Emeritus of Finance, Corporate Governance and Ethics at the Stern School of Business, New York University, and his team of experts tackle the issue by focussing on key findings backed by serious theoretical and empirical research. The result is a set of viable guideposts for researchers, policy-makers, students and anybody interested in the varied challenges of the contemporary economy.

Bosnia and Herzegovina

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 75 pages
File Size : 41,8 Mb
Release : 2015-08-03
Category : Business & Economics
ISBN : 9781513549002

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Bosnia and Herzegovina by International Monetary Fund. Monetary and Capital Markets Department Pdf

This paper discusses key findings and recommendations of the Detailed Assessment of Observance of the CPMI–IOSCO (Committee on Payments and Market Infrastructures–International Organization of Securities Commissions) Principles for Financial Market Infrastructures in Bosnia and Herzegovina. Major achievements have been made in modernizing the payment system. Resiliency of the interbank payment system was demonstrated against the severe floods of May 2014. The currency board arrangement has helped protect the payment system from credit risks. The formal assessment of the real-time gross settlement system suggests that many of the standards are observed. The legal basis is relatively sound, but finality and netting arrangements require greater legal certainty and protection at the law level.

Canada

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 85 pages
File Size : 47,9 Mb
Release : 2019-06-24
Category : Business & Economics
ISBN : 9781498321112

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Canada by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macrofinancial vulnerabilities—notably, elevated household debt and housing market imbalances—remain substantial, posing financial stability concerns. Various parts of the financial system are directly exposed to the housing market and/or linked through housing finance. The financial system would be able to manage severe macrofinancial shocks. Major deposit-taking institutions would remain resilient, but mortgage insurers would need additional capital in a severe adverse scenario. Housing finance is broadly resilient, notwithstanding some weaknesses in the small non-prime mortgage lending segment. Although banks’ overall capital buffers are adequate, additional required capital for mortgage exposures, along with measures to increase risk-based differentiation in mortgage pricing, would be desirable. This would help ensure adequate through-the cycle buffers, improve mortgage risk-pricing, and limit procyclical effects induced by housing market corrections.

Republic of Moldova

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 33 pages
File Size : 50,7 Mb
Release : 2016-02-29
Category : Business & Economics
ISBN : 9781513504322

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Republic of Moldova by International Monetary Fund. Monetary and Capital Markets Department Pdf

Moldova has a modern interbank payment system that lies at the heart of its financial markets. The Automated Interbank Payment System (AIPS) settled on average MDL 2 billion (US$ 214 million) per day, or 2.7 percent of GDP in 2013. It has real-time gross settlement features that help reduce systemic risks, settles large-value and time-critical payments, and is interdependent with two securities settlement systems. This includes the central bank’s Book-Entry System (BES) that handles government securities and central bank certificate settlements, and the National Securities Depository (NSD) that settles private sector securities trades. It largely met international standards in the FSAP Update of 2008. A self-assessment of the BES against the CPSS-IOSCO Principles for Financial Market Infrastructures (PFMIs) has been completed in December 2013 by the NBM. The preliminary results suggest full observance with 11 principles and broad observance with three principles (Principle 1 on Legal Basis, Principle 22 on Communication Procedures and Standards). They are currently under the peer review process by the National Commission for Financial Markets (NCFM).

Understanding Cybersecurity Management in FinTech

Author : Gurdip Kaur,Ziba Habibi Lashkari,Arash Habibi Lashkari
Publisher : Springer Nature
Page : 193 pages
File Size : 42,6 Mb
Release : 2021-08-04
Category : Business & Economics
ISBN : 9783030799151

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Understanding Cybersecurity Management in FinTech by Gurdip Kaur,Ziba Habibi Lashkari,Arash Habibi Lashkari Pdf

This book uncovers the idea of understanding cybersecurity management in FinTech. It commences with introducing fundamentals of FinTech and cybersecurity to readers. It emphasizes on the importance of cybersecurity for financial institutions by illustrating recent cyber breaches, attacks, and financial losses. The book delves into understanding cyber threats and adversaries who can exploit those threats. It advances with cybersecurity threat, vulnerability, and risk management in FinTech. The book helps readers understand cyber threat landscape comprising different threat categories that can exploit different types of vulnerabilties identified in FinTech. It puts forward prominent threat modelling strategies by focusing on attackers, assets, and software and addresses the challenges in managing cyber risks in FinTech. The authors discuss detailed cybersecurity policies and strategies that can be used to secure financial institutions and provide recommendations to secure financial institutions from cyber-attacks.

Principles for Financial Market Infrastructures

Author : Group of Ten. Committee on Payment and Settlement Systems
Publisher : Unknown
Page : 182 pages
File Size : 43,8 Mb
Release : 2012
Category : Clearing of securities
ISBN : 9291311081

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Principles for Financial Market Infrastructures by Group of Ten. Committee on Payment and Settlement Systems Pdf

This report contains new and more demanding international standards for payment, clearing and settlement systems, including central counterparties. The new standards (called "principles") are designed to ensure that the infrastructure supporting global financial markets is more robust and thus well placed to withstand financial shocks. The principles apply to all systemically important payment systems, central securities depositories, securities settlement systems, central counterparties and trade repositories (collectively "financial market infrastructures," or FMIs). They replace the three existing sets of international standards set out in the Core principles for systemically important payment systems (CPSS, 2001); the Recommendations for securities settlement systems (CPSS-IOSCO, 2001); and the Recommendations for central counterparties (CPSS-IOSCO, 2004). CPSS and IOSCO have strengthened and harmonised these three sets of standards by raising minimum requirements, providing more detailed guidance and broadening the scope of the standards to cover new risk-management areas and new types of FMIs.