The evolution of central securities depositaries in Europe: stable functions in a changing environment

Gisèle Chanel-Reynaud and Dominique Chabert

Revue d'Économie Financière, 2006, vol. 82, issue 1, 203-220

Abstract: [eng] Central Securities Depositories (CSD) play two roles in the national framework : securities ultimate custody and securities settlement (operating acting securities settlement systems -SSS). Now, the passage from a national space to a European domestic one, reveals overcapacities and interferences between the different actors (CSD, ICSD and global custodians) of this post-trade market. This article examines CSD’s current functions and the manner in which they operate on a broader space. We put special emphasis on the « custody/authentification » function on which market confidence lies. We also raise the question of what institution is the most efficient in the new domestic area. We conclude that, whatever the solution, a strong impetus of the European dimension is needed (through a « domestic » CSD or a European Regulator). . JEL classification : F36, G2, G28

Date: 2006
Note: DOI:10.3406/ecofi.2006.4452
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.3406/ecofi.2006.4452 (text/html)
https://www.persee.fr/doc/ecofi_1767-4603_2006_num_82_1_4452 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prs:recofi:ecofi_1767-4603_2006_num_82_1_4452

Access Statistics for this article

Revue d'Économie Financière is currently edited by Association d'Économie Financière

More articles in Revue d'Économie Financière from Programme National Persée
Bibliographic data for series maintained by Equipe PERSEE ().