Research Discussion Papers, Bank of Finland
No 23/2005:
Standard setting and competition in securities settlement
Alistair Milne ()
Abstract: This paper examines the impact of messaging and technical
standards on competition in the supply of se-curities transaction
management services. Two simple switching cost models are used to clarify
the im-pact of standards on barriers to entry and on the incentives to
adopt harmonised and simplified securities processing standards. Policy
implications are discussed briefly.
Keywords: securities settlement; standards; inter-operability; switching costs; (follow links to similar papers)
JEL-Codes: L15; L86; (follow links to similar papers)
34 pages, October 11, 2005
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