Table of Contents

Part I – Processes 1. Introduction to Clearing and Settlement 2. What happens in Clearing and Settlement 3. Trading 4. Post-trade support services 5. Cash 6. Securities Part II – Regulation 7. International regulatory standards 8. Regulation of infrastructures in the United Kingdom 9. Legal form and governance of infrastructures 10. The Clearing imperative 11. Competition 12. Prudential regulation of agent banks Part III – Risk and operations 13. Insolvency 14. Failure and rehabilitation of infrastructures 15. Interoperability 16. Risk management in payment systems 17. Risk management at CCPs 18. Risk management at CSDs 19. Risk management at the agent bank 20. Dividends, corporate actions and voting rights 21. Securities lending 22. Tax

Promotional Information

Offers an overall picture of the processes and risks involved in clearing and settlement, and how laws and regulations try to mitigate these risks.

About the Author

Dermot Turing is a solicitor and former partner of lawfirm Clifford Chance, where he advised on payments, clearing and settlement for many years. He served as an independent member of the European Post Trade Forum during 2016-2017. He is now a Visiting Fellow at Kellogg College, Oxford University and contributes frequently to the academic analysis of clearing and settlement. He is also a writer, speaker and a trustee of the Turing Trust. For more information visit www.dermotturing.com

Reviews

This sort of book is exactly what practitioners need to find orientation among the tsunami of regulatory developments
*Journal of International Banking Law and Regulation, (Review of 2nd Ed)*

This book is to be recommended to all who want to understand the working of the financial system and its likely evolution ahead of us
*Foreword to the 1st Edition*

Lawyers, policy makers, risk managers and others working in clearing and settlement or relying upon it will find much to educate and inform in this book: they may even be entertained.
*Dr David Murphy, London School of Economics*

The up-to-date and in-depth legal, regulatory and operational analysis provided by this book is an excellent source for policy makers and private sector executives to promote the much-needed post trade reform.
*Dr. Werner Frey*