Future of Financial Markets »

David G. Mayes is Professor of Economics, South Bank University, and Advisor to the Board, Suomen Pankk, Finlands Bank.

This book examines the way in which financial markets will develop over the coming years in the face of electronification, other technical innovations, and increasing competition among international markets. It uses current research from the Bank of Finland in collaboration with researchers from Europe and the US, providing a good balance between the academic, policy and practitioner communities. It is compelling reading for policy makers, financial institutions and academics in an area where the link between theory and practice has, until now, not been made.

The Structure of International Securities Markets, Payments and Settlement Systems

Technological Efficiency in Stock Markets

Economies of Scale in Stock Markets and Securities Settlement Systems

Stock Exchange Alliances and Competition in Trading Services

Institutional Factors and Efficiency in Stock Markets

Electronification and the Implications for Stock Sarket Efficiency

Technological Possibilities in Gross Settlement Methods

Electronic Money and the Implications for Transactions and the Role of the Central Bank

A Review of the Prospects for Financial Markets and their Implications