Introduction To Payments And Financial Market Infrastructures
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Introduction To Payments And Financial Market Infrastructures
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Author : Ulrich Bindseil
language : en
Publisher: Springer Nature
Release Date : 2023-10-28
Introduction To Payments And Financial Market Infrastructures written by Ulrich Bindseil and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-28 with Business & Economics categories.
Payments and financial market infrastructures are vital components of modern economies, yet they have often been overlooked by economists. However, any economic exchange, including financial market transactions, is matched by a payment leg, and the safety, efficiency, and immediacy of the payment, and the problem of linking the two legs of the transaction (“delivery-vs-payment”), remain universal challenges. The consequences of inefficiencies or interruptions in payment and settlement systems have immediate and significant impacts on the real economy. Moreover, payments and financial market infrastructures are also a matter of strategic importance for nation-states, and being excessively dependent on foreign providers has been proven to be a significant risk, as they can be “weaponized." This book provides a concise yet thorough introduction to payments and financial market infrastructures, exploring various types of risks, retail payments, payment systems, cross-border payments, central counterparties, FX operations, and central securities depositories. The final chapter investigates payment innovations, including unbacked crypto-assets (e.g. Bitcoin), stablecoins, and central bank digital currencies. The text outlines key activities and risk management frameworks, as well as examining the operational mechanics of different payment systems. The book emphasizes the importance of understanding the nature of transfer of financial claims and liabilities through the process of payment and settlement, providing financial account representations of payments wherever useful. The book concludes that the payment and financial market infrastructure space has been shaken by recent innovations, which are expected to lead to seismic shifts in payment technology, practices, and market structures.
Between Payments And Credit
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Author : George Pantelopoulos
language : en
Publisher: Springer Nature
Release Date : 2025-06-22
Between Payments And Credit written by George Pantelopoulos and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-06-22 with Business & Economics categories.
In unpacking credit relationships and payments over the past 1000 years in addition to how technological innovations are shifting the credit relationships/payments landscape – from barter, commodity money, single layered to dual-layered financial money systems and from CBDC to stablecoins – this book systematically explores the various techniques that have been introduced in an attempt to improve the organisation, efficiency and stability of the IOU economy as a way to mitigate or prevent the universal challenge of the IOU economy from binding. In doing so, the book first unpacks how credit relationships, payments and economic life have developed throughout history, and sheds light on how the adoption of various techniques have led to greater efficiencies in payments across time. In addition, the book also explores how technological innovations are shifting the credit relationships/payments landscape. Subsequently, the book demonstrates how the adoption of five major techniques have to a large extent mitigated (but not eliminated) the threat of the universal challenge of the IOU economy from arising. With this, the book also envisages that the adoption of systems of financial accounts provides a didactic framework for those who are interested in studying topics in credit relationships and payments at an intermediate/advanced level (e.g. masters level university students, academics etc.).
Distributed Ledger Technology Experiments In Payments And Settlements
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Author : Mr.Ghiath Shabsigh
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-24
Distributed Ledger Technology Experiments In Payments And Settlements written by Mr.Ghiath Shabsigh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-24 with Business & Economics categories.
Major transformations in payment and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took several days domestically and weeks internationally. The second generation involved computerization with batch processing. Links between payment systems were made through manual or file-based interfaces. The change-over period between technologies was long and still some paper-based instruments like checks and cash remain in use. The third generation, which has been emerging, involves electronic and mobile payment schemes that enable integrated, immediate, and end-to-end payment and settlement transfers. For example, real-time gross settlement systems have been available in almost all countries. DLT has been viewed as a potential platform for the next generation of payment systems, enhancing the integration and the reconciliation of settlement accounts and their ledgers. So far, experiments with DLT experimentations point to the potential for financial infrastructures to move towards real-time settlement, flatter structures, continuous operations, and global reach. Testing in large-value payments and securities settlement systems have partly demonstrated the technical feasibility of DLT for this new environment. The projects examined analyzed issues associated with operational capacity, resiliency, liquidity savings, settlement finality, and privacy. DLT-based solutions can also facilitate delivery versus payment of securities, payment versus payment of foreign exchange transactions, and efficient cross-border payments.
Financial Markets And Institutions
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Author : Jakob de Haan
language : en
Publisher: Cambridge University Press
Release Date : 2015-06-18
Financial Markets And Institutions written by Jakob de Haan and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-18 with Business & Economics categories.
Now in its third edition, this successful textbook insightfully analyses the global financial system from a European perspective.
Digital Transformation And Sustainability Of Business
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Author : Sai Kiran Oruganti
language : en
Publisher: CRC Press
Release Date : 2025-05-20
Digital Transformation And Sustainability Of Business written by Sai Kiran Oruganti and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-05-20 with Technology & Engineering categories.
It explores the integration of digital technologies into business models, offering innovative approaches for sustainable growth. This comprehensive guide delves into case studies and strategic frameworks that align digital transformation with environmental and economic sustainability. It presents actionable insights on overcoming challenges, leveraging technology for efficiency, and fostering a competitive edge. Designed for industry leaders, researchers, and policymakers, the book provides evidence-based strategies supported by real-world applications, making it an essential resource for those looking to drive meaningful change in today’s evolving business landscape.
Analyzing The Economics Of Financial Market Infrastructures
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Author : Diehl, Martin
language : en
Publisher: IGI Global
Release Date : 2015-08-17
Analyzing The Economics Of Financial Market Infrastructures written by Diehl, Martin and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-08-17 with Business & Economics categories.
The prosperity and stability of any economic structure is reliant upon a foundation of secure systems that regulate the movement of money across the globe. These structures have become an integral part of contemporary society by reducing monetary risk and increasing financial security. Analyzing the Economics of Financial Market Infrastructures is a pivotal reference source for the latest scholarly research on the current developments in financial systems and how these processes are evolving due to new regulations and technical advances. Featuring extensive coverage on a range of relevant topics on payment systems, central securities depositories, central counterparties, and trade repositories, this book is an essential reference source for professionals in the financial sector, analysts, IT professionals, and academicians concerned with emerging research on financial markets. This book features timely, research-based chapters on a variety of crucial topics including, but not limited to, payment timing, multi-layer networks, transaction simulations, payment system analysis, and regulation of financial marketplaces.
The Integration Of European Financial Markets
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Author : Noah Vardi
language : en
Publisher: Routledge
Release Date : 2010-12-14
The Integration Of European Financial Markets written by Noah Vardi and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-14 with Business & Economics categories.
The last decade has seen the increasing integration of European financial markets due to a number of factors including the creation of a common regulatory framework, the liberalisation of international capital movements, financial deregulation, advances in technology and the introduction of the Euro. However, the process of integration has proceeded largely in the absence of any comprehensive legal regulation, and has rather been constructed on the basis of sectorial provisions dictated by the needs of cross-border transactions. This has meant that many legal barriers still remain as obstacles to complete integration. This book considers the discipline of monetary obligations within the wider context of financial markets. The book provides a comparative and transnational examination of the legal rules which form the basis of transactions on financial markets. Analysing the integration of the markets from a legal point of view provides an opportunity to highlight the role of globalisation as the key element favouring the circulation of rules, models, and especially the development of new regulatory sources. The book examines market transactions and the institutes at the root of these transactions, including the type of legislative sources in force and the subjects acting as legislators. The first part of the book concentrates on the micro-discipline of money, debts, payments and financial instruments. The second part goes on to analyse the macro-context of integration of the markets, looking at the persistence of legal barriers and options for their removal, as well as the development of new legal sources as a consequence of the transfer of monetary and political sovereignty. Finally, the book draws links between the two parts and assesses the consequences of the changes at the macro-level of regulation on the micro-level of legal discipline of monetary obligations, particularly focusing on the emergence and growing importance of soft law.
Understanding Systemic Risk In Global Financial Markets
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Author : Aron Gottesman
language : en
Publisher: John Wiley & Sons
Release Date : 2017-06-07
Understanding Systemic Risk In Global Financial Markets written by Aron Gottesman and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-07 with Business & Economics categories.
An accessible and detailed overview of the risks posed by financial institutions Understanding Systemic Risk in Global Financial Markets offers an accessible yet detailed overview of the risks to financial stability posed by financial institutions designated as systemically important. The types of firms covered are primarily systemically important banks, non-banks, and financial market utilities such as central counterparties. Written by Aron Gottesman and Michael Leibrock, experts on the topic of systemic risk, this vital resource puts the spotlight on coherency, practitioner relevance, conceptual explanations, and practical exposition. Step by step, the authors explore the specific regulations enacted before and after the credit crisis of 2007-2009 to promote financial stability. The text also examines the criteria used by financial regulators to designate firms as systemically important. The quantitative and qualitative methods to measure the ongoing risks posed by systemically important financial institutions are surveyed. A review of the regulations that identify systemically important financial institutions The tools to use to detect early warning indications of default A review of historical systemic events their common causes Techniques to measure interconnectedness Approaches for ranking the order the institutions which pose the greatest degree of default risk to the industry Understanding Systemic Risk in Global Financial Markets offers a must-have guide to the fundamentals of systemic risk and the key critical policies that work to reduce systemic risk and promoting financial stability.
Positioning Central Bank Digital Currency In The Payments Landscape
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Author : Manisha Patel
language : en
Publisher: International Monetary Fund
Release Date : 2024-10-02
Positioning Central Bank Digital Currency In The Payments Landscape written by Manisha Patel and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-10-02 with categories.
The IMF is frequently approached by central banks seeking guidance on the balance between central bank digital currency (CBDC), fast payment systems (FPS), and electronic money (e-money) solutions. Common questions arising include: Do central banks need a CBDC when already equipped with other well-established digital payments systems? For central banks with less-developed solutions: Should central banks establish one system over the other? This discussion is then compounded by the reality of constrained resources. This note focuses on the comparison of retail CBDC—that is, the presence of digital central bank money available to the general public—with FPS and e-money systems from a payments perspective, and how CBDC may support a jurisdiction’s vision on payments in the digital age. The note does not seek to advocate for CBDC over an FPS or e-money. The balance of arguments for any one system may change over time, and the choice may not be mutually exclusive in many jurisdictions. In the future, it is possible to envisage the coexistence of an FPS, e-money, and CBDC in many payment landscapes across the world. Through good design, all three systems could meet central bank objectives such as payments efficiency and supporting financial inclusion; some benefits are unique to CBDC, such as maintaining access to central bank money in an increasingly digitalized age. While central banks will make choices unique to their circumstances, it remains important for central banks to establish a strategy that allows them (at minimum) to monitor trends and core benefits of multiple solutions as developments occur, to allow them to plan, adapt, and drive developments in their payments landscape.
Revolutionizing Financial Services And Markets Through Fintech And Blockchain
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Author : Mehta, Kiran
language : en
Publisher: IGI Global
Release Date : 2023-07-20
Revolutionizing Financial Services And Markets Through Fintech And Blockchain written by Mehta, Kiran and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-20 with Business & Economics categories.
The financial services sector experiences millions of transactions representing billions of dollars every day, with security, transparency, and cost-efficiency being top priorities. Blockchain usage is increasing in the financial services sector; it is a breakthrough that has changed the global financial system, making it safer and more efficient. Revolutionizing Financial Services and Markets Through FinTech and Blockchain explores the application of blockchain technology within financial services and financial markets. Covering topics such as blockchain technology, e-finance applications, and financial product innovation, this book is ideal for academicians, investment institutions, asset management professionals, consultants, and more.