The European Securities Transaction Industry

Marco Weiss

Chapter 5 in Efficient Organizational Design, 2007, pp 197-232 from Palgrave Macmillan

Abstract: Abstract Despite a lot of restructuring and many innovations in recent years, the securities transaction industry in the European Union (EU) is still a highly inefficient and inconsistently configured system for cross-border transactions. Many EU politicians eagerly promote the completion of the Single European Market, but — apart from a few exceptions — the industry structure still closely resembles the former fragmented market structure of largely independent organizations operating along national lines. This causes higher costs in the handling of cross-border securities1 which ultimately translate into higher costs of capital — a significant competitive disadvantage for European firms compared to companies in the USA.

Keywords: European Union; Vertical Integration; Organizational Design; Industry Structure; Static Efficiency (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230287952_5

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