On the Future of Securities Settlement

Innovative technologies, such as distributed ledgers, allow securities to be issued or represented in a new form known as digital tokens. Such "tokenisation" of securities will alter post-trade clearing and settlement, and could improve efficiency in some dimensions. But the fundamental trade-offs involving credit risk and liquidity remain in a tokenised world. To succeed, tokens will need to interoperate with account-based systems, at least in the interim

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Year of publication:	2020
Authors:	Bech, Morten L.
Other Persons:	Hancock, Jenny (contributor) ; Rice, Tara (contributor) ; Wadsworth, Amber (contributor)
Publisher:	[2020]: [S.l.] : SSRN
Subject:	Wertpapierhandel \| Securities trading \| Welt \| World \| Clearing \| Financial clearing

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Extent:	1 Online-Ressource (17 p)
Series:	BIS Quarterly Review, March 2020
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 1, 2020 erstellt
Classification:	G1 - General Financial Markets ; G15 - International Financial Markets ; G23 - Pension Funds; Other Private Financial Institutions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012838725