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Introduction to Payments and Financial Market Infrastructures

By Ulrich Bindseil

Introduction to Payments and Financial Market Infrastructures Law

Introduction to Payments and Financial Market Infrastructures

Only 1 item left in stock
Description
Payments and financial market infrastructures are vital components of modern economies, yet they have often been overlooked by economists. However, any economic exchange, including financial market transactions, is matched by a payment leg, and the safety, efficiency, and immediacy of the payment, and the problem of linking the two legs of the transaction ("delivery-vs-payment"), remain universal challenges. The consequences of inefficiencies or interruptions in payment and settlement systems have immediate and significant impacts on the real economy. Moreover, payments and financial market infrastructures are also a matter of strategic importance for nation-states, and being excessively dependent on foreign providers has been proven to be a significant risk, as they can be "weaponized." This book provides a concise yet thorough introduction to payments and financial market infrastructures, exploring various types of risks, retail payments, payment systems, cross-border payments, central counterparties, FX operations, and central securities depositories. The final chapter investigates payment innovations, including unbacked crypto-assets (e.g. Bitcoin), stablecoins, and central bank digital currencies. The text outlines key activities and risk management frameworks, as well as examining the operational mechanics of different payment systems. The book emphasizes the importance of understanding the nature of transfer of financial claims and liabilities through the process of payment and settlement, providing financial account representations of payments wherever useful. The book concludes that the payment and financial market infrastructure space has been shaken by recent innovations, which are expected to lead to seismic shifts in payment technology, practices, and market structures.
Product details
Binding:
Paperback
Number of Pages:
168
Release Date:
2024-11-15
Publication Date:
2024-11-15
Publisher:
Springer
Languages:
Original: English
ISBN10:
3031395220
ISBN13:
9783031395222
GPSR Manufacturer Reference:
[email protected]
Weight:
265 g
Height:
155 cm
Width:
235 cm
Thickness:
10 cm
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Very good
Almost no signs of wear. Book pages have no markings, accessories are intact and all other media are in good condition.
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