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Evolution of the Exchange Industry

From Dealers’ Clubs to Multinational Companies

Authors: Geranio, Manuela

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  • Describes in detail the exchange industry, its structure and corporate strategies
  • Offers up-to-date and comprehensive comparison of the performances of the main exchanges
  • Provides an overview of shareholding patterns and governance issues for exchanges
  • Focuses on international agreements
  • Forecasts future developments in the secondary market industry
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eBook 74,89 €
price for Spain (gross)
  • ISBN 978-3-319-21027-8
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Hardcover 103,99 €
price for Spain (gross)
Softcover 93,59 €
price for Spain (gross)
About this book

This book describes the dramatic changes that have occurred in the exchange industry during the past two decades. The strategies adopted by major world exchanges during this period are explained and the roles of multilateral trading systems and over-the-counter (OTC) players are clearly described, highlighting their economics and their interconnections with traditional exchanges. Up-to-date, comprehensive comparisons are made of the performances of the main exchanges, and important governance issues are considered. In addition, threats and opportunities for major types of trading venue, deriving either from new regulatory approaches or from the surge in new markets, are presented and discussed with a view to forecasting future developments in the secondary market industry.The background to the book is the strong erosion in traditional profit drivers for exchanges produced by the progress in communications and trading technology. In many countries, regulation has reduced barriers to entry in the equity field, facilitating a surge in new players and a shift of liquidity toward alternative trading platforms and dark pools.

About the authors

Manuela Geranio is Tenured Researcher in Financial Markets and Institutions and Adjunct Professor of International Financial Markets at Bocconi University, Milan. She holds a PhD in Business Administration. Her research focuses on equity markets, both at the domestic and at the international level, including IPOs, delistings, private equity deals, and exchange market strategies. Recently she cooperated with industry players and regulators in the development of the Italian Stock Exchange.

Table of contents (7 chapters)

Table of contents (7 chapters)

Buy this book

eBook 74,89 €
price for Spain (gross)
  • ISBN 978-3-319-21027-8
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 103,99 €
price for Spain (gross)
Softcover 93,59 €
price for Spain (gross)
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Bibliographic Information

Bibliographic Information
Book Title
Evolution of the Exchange Industry
Book Subtitle
From Dealers’ Clubs to Multinational Companies
Authors
Copyright
2016
Publisher
Springer International Publishing
Copyright Holder
Springer International Publishing Switzerland
eBook ISBN
978-3-319-21027-8
DOI
10.1007/978-3-319-21027-8
Hardcover ISBN
978-3-319-21026-1
Softcover ISBN
978-3-319-79328-3
Edition Number
1
Number of Pages
XIV, 126
Number of Illustrations
3 b/w illustrations, 40 illustrations in colour
Topics

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