The Impact of Information Technology on European Post-Trading

Abstract

The European post-trading landscape is recently changing fundamentally due to regulatory actions, the financial crisis, and the strong linkage of the global financial markets. The systemic importance of post-trading infrastructures underlines the industry's significant dependence on safe and efficient processes and thus the importance of reliable IT-systems. Using the Delphi methodology in a study among a multitude of experts from different areas of post-trading, we developed a joint and coherent view of the most important issues relating to IT the post-trading system has to cope with. Keywords

Competition in the clearing and settlement industry

“…Developments in information and communication technology promote integration of financial markets in the euro area (see, e.g., Hasan and Malkamäki, 2001;Schmiedel et al, 2006), reduce the importance of location for efficiency of transactions, and foster a single market, especially if regulatory barriers are also removed (see Gehrig and Stenbacka, 2007). Information technology serves as a competitive factor in the post-trading industry (Schaper and Chlistalla, 2010).…”

Financial Institutions in the Global Financial Crisis

“…Hasan and Malkamäki, 2001;Schmiedel, et al, 2006), reduce the importance of location for efficiency of transactions, and foster a single market especially if regulatory barriers are also removed (see Gehrig and Stenbacka, 2007). Information technology serves as a competitive factor in the post-trading industry (Schaper and Chlistalla, 2010).…”