Cover for Achieving Market Integration

Achieving Market Integration

Best Execution, Fragmentation and the Free Flow of Capital

A volume in Securities Institute Global Capital Markets

Book2004

Authors:

Scott McCleskey

Achieving Market Integration

Best Execution, Fragmentation and the Free Flow of Capital

A volume in Securities Institute Global Capital Markets

Book2004

 

Cover for Achieving Market Integration

Authors:

Scott McCleskey

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Book description

Best execution, market integration, and other major financial market issues have traditionally been dealt with as separate matters requiring individual solutions. In Achieving Mar ... read full description

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  2. Book chapterAbstract only

    1 - Introduction

    Pages 1-3

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    Appendix A - Selected best execution terminology

    Page 150

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    Appendix B - Proposed best execution policy

    Pages 151-152

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    Further Reading

    Page 153

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    Selected Bibliography

    Pages 154-156

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    Index

    Pages 157-160

About the book

Description

Best execution, market integration, and other major financial market issues have traditionally been dealt with as separate matters requiring individual solutions. In Achieving Market Integration the author demonstrates the interrelated nature of these and other imperative problems, and sensibly reduces them to their common fundamental principles. Beginning with an in-depth examination of best execution in today's multiple-market environment, the book moves logically into an examination of market structure and the problems of achieving genuine integration. The book makes the case that order interaction is fundamental to addressing each of these issues, and develops a unified regulatory approach to achieve true market integration based on intermarket linkages and a cross-market best execution policy. This unique approach culminates in a coherent set of policy recommendations and an innovative framework for assessing the effectiveness of future policy proposals.

Best execution, market integration, and other major financial market issues have traditionally been dealt with as separate matters requiring individual solutions. In Achieving Market Integration the author demonstrates the interrelated nature of these and other imperative problems, and sensibly reduces them to their common fundamental principles. Beginning with an in-depth examination of best execution in today's multiple-market environment, the book moves logically into an examination of market structure and the problems of achieving genuine integration. The book makes the case that order interaction is fundamental to addressing each of these issues, and develops a unified regulatory approach to achieve true market integration based on intermarket linkages and a cross-market best execution policy. This unique approach culminates in a coherent set of policy recommendations and an innovative framework for assessing the effectiveness of future policy proposals.

Key Features

*The first book on this important subject for the finance community
*Explains the aims and proposes solutions to the difficulties of establishing a stock market that integrates the diverse national exchanges around Europe
*Provides a discussion point for those lobbying the European Commission on formulating regulation for an integrated European capital market

*The first book on this important subject for the finance community
*Explains the aims and proposes solutions to the difficulties of establishing a stock market that integrates the diverse national exchanges around Europe
*Provides a discussion point for those lobbying the European Commission on formulating regulation for an integrated European capital market

Details

ISBN

978-0-7506-5745-7

Language

English

Published

2004

Copyright

Copyright © 2004 Elsevier Ltd. All rights reserved

Imprint

Butterworth-Heinemann

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Authors

Scott McCleskey