Behind the money market: clearing and settling money market instruments

David L. Mengle

Economic Review, 1992, vol. 78, issue Sep, 3-11

Abstract: When a money market instrument is traded, the clearing and settlement process establishes the change in ownership. Because the process involves both costs and risks, money market participants have developed means of making clearing and settlement more efficient and less risky.

Keywords: Money market; Payment systems (search for similar items in EconPapers)
Date: 1992
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