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Standard setting and competition in securities settlement

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  • Milne, Alistair

Abstract

This paper examines the impact of messaging and technical standards on competition in the supply of securities transaction management services. Two simple switching cost models are used to clarify the impact of standards on barriers to entry and on the incentives to adopt harmonised and simplified securities processing standards. Policy implications are discussed briefly.

Suggested Citation

  • Milne, Alistair, 2005. "Standard setting and competition in securities settlement," Bank of Finland Research Discussion Papers 23/2005, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:rdp2005_023
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    File URL: https://www.econstor.eu/bitstream/10419/212021/1/bof-rdp2005-023.pdf
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    References listed on IDEAS

    as
    1. Jean-Charles Rochet & Jean Tirole, 2003. "Platform Competition in Two-Sided Markets," Journal of the European Economic Association, MIT Press, vol. 1(4), pages 990-1029, June.
    2. Benjamin Chiao & Josh Lerner & Jean Tirole, 2007. "The rules of standard-setting organizations: an empirical analysis," RAND Journal of Economics, RAND Corporation, vol. 38(4), pages 905-930, December.
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    Cited by:

    1. Kemppainen, Kari, 2008. "Integrating European retail payment systems: some economics of SEPA," Bank of Finland Research Discussion Papers 22/2008, Bank of Finland.

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    More about this item

    Keywords

    securities settlement; standards; inter-operability; switching costs;
    All these keywords.

    JEL classification:

    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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