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The European Securities Transaction Industry

In: Efficient Organizational Design

Author

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  • Marco Weiss

Abstract

Despite a lot of restructuring and many innovations in recent years, the securities transaction industry in the European Union (EU) is still a highly inefficient and inconsistently configured system for cross-border transactions. Many EU politicians eagerly promote the completion of the Single European Market, but — apart from a few exceptions — the industry structure still closely resembles the former fragmented market structure of largely independent organizations operating along national lines. This causes higher costs in the handling of cross-border securities1 which ultimately translate into higher costs of capital — a significant competitive disadvantage for European firms compared to companies in the USA.

Suggested Citation

  • Marco Weiss, 2007. "The European Securities Transaction Industry," Palgrave Macmillan Books, in: Efficient Organizational Design, chapter 5, pages 197-232, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28795-2_5
    DOI: 10.1057/9780230287952_5
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    Citations

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    Cited by:

    1. Martin, Antoine & McAndrews, James, 2010. "A study of competing designs for a liquidity-saving mechanism," Journal of Banking & Finance, Elsevier, vol. 34(8), pages 1818-1826, August.
    2. Milne, Alistair, 2007. "The industrial organization of post-trade clearing and settlement," Journal of Banking & Finance, Elsevier, vol. 31(10), pages 2945-2961, October.
    3. Baris Serifsoy, 2008. "Demutualization, outsider ownership, and stock exchange performance: empirical evidence," Economics of Governance, Springer, vol. 9(4), pages 305-339, October.

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