Equity markets in transition : the value chain, price discovery, regulation, and beyond /: the value chain, price discovery, regulation, and beyond. ([2017])
- Record Type:
- Book
- Title:
- Equity markets in transition : the value chain, price discovery, regulation, and beyond /: the value chain, price discovery, regulation, and beyond. ([2017])
- Main Title:
- Equity markets in transition : the value chain, price discovery, regulation, and beyond
- Further Information:
- Note: Reto Francioni, Robert A. Schwartz, editors ; with the assistance of John Byrne and Stephanie Wlkoborsky.
- Editors:
- Francioni, Reto
- Other Names:
- Schwartz, Robert A
- Contents:
- Abbreviations; About the Authors; About the Editors; Contributors; Part I: The Value Chain of Exchange Organizations: Systematic Overview; Chapter 1: Exchange Organizations: Thoughts and Reflections; 1.1 Just Another Company; 1.2 Not Just Another Company; 1.3 Another Company; 1.4 Making Risk Management Work: OTC Derivative Clearing; 1.5 Making Risk Transparent and Affordable: Global Liquidity Management; References; Chapter 2: An Exchange and Its Value Chain; 2.1 Introduction; 2.2 The Exchange: Link to the Real Economy Through Investments; 2.2.1 Primary and Secondary Market 2.2.2 Mission: Capital allocation through price discovery2.2.2.1 Precondition: Build, maintain, and grow liquidity pools; 2.2.2.2 Price Discovery; 2.2.3 Performance Criteria; 2.2.4 Home Markets; 2.2.4.1 The Home Market Principle; 2.2.4.2 Reference Functions; 2.3 Layers of an Exchange; 2.3.1 Organization; 2.3.2 Regulation; 2.3.3 Technology; 2.3.4 Stakeholders; 2.4 Customers of an Exchange; 2.4.1 Issuers and Intermediaries; 2.4.2 Investors: The Investment Process; 2.5 The Elements of the Value Chain; 2.5.1 Trading: Price Discovery; 2.5.2 Clearing: Risk Management and Market Stability 2.5.2.1 Novation2.5.2.2 Netting; 2.5.2.3 Risk Management; 2.5.2.4 Lines of Defense; 2.5.2.5 Default Management; 2.5.2.6 Key Criteria for CCP Rating; 2.5.3 Settlement: Delivery Versus Payment; 2.5.4 Custody: Administration and Safekeeping; 2.6 The Objective of the Value Chain: Straight-Through Processing; 2.7 The Role ofAbbreviations; About the Authors; About the Editors; Contributors; Part I: The Value Chain of Exchange Organizations: Systematic Overview; Chapter 1: Exchange Organizations: Thoughts and Reflections; 1.1 Just Another Company; 1.2 Not Just Another Company; 1.3 Another Company; 1.4 Making Risk Management Work: OTC Derivative Clearing; 1.5 Making Risk Transparent and Affordable: Global Liquidity Management; References; Chapter 2: An Exchange and Its Value Chain; 2.1 Introduction; 2.2 The Exchange: Link to the Real Economy Through Investments; 2.2.1 Primary and Secondary Market 2.2.2 Mission: Capital allocation through price discovery2.2.2.1 Precondition: Build, maintain, and grow liquidity pools; 2.2.2.2 Price Discovery; 2.2.3 Performance Criteria; 2.2.4 Home Markets; 2.2.4.1 The Home Market Principle; 2.2.4.2 Reference Functions; 2.3 Layers of an Exchange; 2.3.1 Organization; 2.3.2 Regulation; 2.3.3 Technology; 2.3.4 Stakeholders; 2.4 Customers of an Exchange; 2.4.1 Issuers and Intermediaries; 2.4.2 Investors: The Investment Process; 2.5 The Elements of the Value Chain; 2.5.1 Trading: Price Discovery; 2.5.2 Clearing: Risk Management and Market Stability 2.5.2.1 Novation2.5.2.2 Netting; 2.5.2.3 Risk Management; 2.5.2.4 Lines of Defense; 2.5.2.5 Default Management; 2.5.2.6 Key Criteria for CCP Rating; 2.5.3 Settlement: Delivery Versus Payment; 2.5.4 Custody: Administration and Safekeeping; 2.6 The Objective of the Value Chain: Straight-Through Processing; 2.7 The Role of Technology Within the Value Chain; 2.7.1 Key Characteristics; 2.7.2 The Trading Platform: The Formula One of Exchange Systems; 2.7.3 Price Discovery: Software vs. Software; 2.8 Risk Management Along the Value Chain; 2.9 Contractual Relationships Within the Value Chain 2.10 Market Regulation: Investor and System Protection2.11 New Customer Needs; 2.11.1 Scope and Mechanisms of the Financial Market Reform; 2.11.2 Mandated Change of Market Structure and Participants' Roles; 2.11.3 Strategic Balance Sheet Management; 2.11.4 New Requirements: Market Access, Liquidity, and Post-trade; 2.11.5 Outlook: Transformation of Global Capital Markets; References; Chapter 3: Primary Market: Bringing Products to the Market; 3.1 An Initial Public Offering; 3.1.1 Issuing Business; 3.1.2 Placement of Shares; 3.1.3 On- and Off-Exchange Trading 3.1.4 Advantages and Disadvantages of a Listing3.1.5 Delisting/Going Private; 3.2 Financial Market Communication; 3.2.1 Equity Story; 3.2.1.1 Company-Specific Factors; 3.2.1.2 Sector-Specific Factors; 3.2.1.3 Other Factors; 3.2.2 IPO Communication; 3.2.3 Ongoing Investor Relations Activities; 3.2.4 Investor Relations Tools; Further Reading; Chapter 4: Secondary Market: Trading, Price Discovery, and Order Matching; 4.1 Price Discovery; 4.1.1 Importance of Price Discovery; 4.1.1.1 Expectations; 4.1.1.2 Public Goods; 4.1.2 Mean Reversion, Returns Autocorrelation, and Accentuated Volatility … (more)
- Publisher Details:
- Cham, Switzerland : Springer Nature
- Publication Date:
- 2017
- Extent:
- 1 online resource (xx, 575 pages), charts
- Subjects:
- 332.642
Finance
Stock exchanges
BUSINESS & ECONOMICS / Finance
Stock exchanges
Business & Economics -- Investments & Securities
Business & Economics -- Insurance -- Risk Assessment & Management
Investment & securities
Management & management techniques
Capital market
Investment banking
Securities
Risk management
Business & Economics -- Finance
Finance
Electronic books
Electronic books - Languages:
- English
- ISBNs:
- 9783319458489
3319458485
3319458469
9783319458465 - Related ISBNs:
- 9783319458465
- Notes:
- Note: Includes bibliographical references.
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- Physical Locations:
- British Library HMNTS - ELD.DS.356677
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- 01_318.xml