Now that the worst of the financial storm is over, regulators are setting new strategies to deal with the systemic importance of the €427 trillion ($604 trillion) over-the-counter (OTC) derivatives market. This paper explores the three major sources of disruptive effects in OTC derivatives:...

Now that the worst of the financial storm is over, regulators are setting new strategies to deal with the systemic importance of the €427 trillion ($604 trillion) over-the-counter (OTC) derivatives market. This paper explores the three major sources of disruptive effects in OTC derivatives:...

RFID (“Radio-Frequency Identification”) is a new telecommunications service that has received a lot of attention in the last years, due to its growing use1. Though it is based on a rather old technology (the Radar), a progressive rise in quality and decrease in price seem to have opened a...

RFID (“Radio-Frequency Identification”) is a new telecommunications service that has received a lot of attention in the last years, due to its growing use1. Though it is based on a rather old technology (the Radar), a progressive rise in quality and decrease in price seem to have opened a...

The financial crisis exposed dangerous weaknesses in the regulatory and oversight structure that need to be urgently corrected to restore confidence in the financial system and to keep the single market alive. Towards this end, this CEPS Task Force report puts forward three main policy...

In the last decade or so, the EU has adopted a number of legislation aimed at liberalising network industries and developing an EU-level regulatory framework for those industries. Against this background, we examine the extent of liberalisation and the nature of market performance in a group of...

In the last two years, the major jurisdictions for equity trading, the U.S. and the E.U., introduced significant reforms in their market structure regulation, following diametrically opposite approaches. While the E.U. effort is deregulatory and decentralized, aiming to facilitate competition...

The EU financial services industry has experienced an enormous regulatory adaptation over the past decade. The dust that had been thrown up by the 1992 programme had barely settled when a new regulatory programme was announced covering 42 measures that had to be implemented by 2005. Exchange...

The EU financial services industry has experienced an enormous regulatory adaptation over the past decade. The dust that had been thrown up by the 1992 programme had barely settled when a new regulatory programme was announced covering 42 measures that had to be implemented by 2005. Exchange...

In the last decade or so, the EU has adopted a number of legislation aimed at liberalising network industries and developing an EU-level regulatory framework for those industries. Against this background, we examine the extent of liberalisation and the nature of market performance in a group of...