{"product_id":"9780511699672","title":"Clearing Services for Global Markets: A Framework for the Future Development of the Clearing Industry","description":"Clearing forms the core part of a smooth and efficiently functioning financial market infrastructure. Traditionally, it has been provided by clearing houses, most of which today act as a 'central counterparty' (CCP) between the two sides of a trade. The rapid growth of cross-border trading has sparked discussion on the most efficient industry structure - particularly in Europe and the US. At the heart of this discussion lies the question of whether the implementation of a single clearing house creates greater benefits than a more competitive but interlinked market structure. This is the starting point for this book, which analyses the efficiency of clearing and clearing industry structure. Along with clear-cut definitions and a concise characterisation and descriptive analysis of the clearing industry, the book determines the efficiency impact of various cross-border integration and harmonisation initiatives between CCPs. This serves to identify the most preferable future structure for the clearing industry.","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":47120002056432,"sku":"9780511699672","price":43.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9780511699672_p0.jpg?v=1763709868","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9780511699672","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}