Clearance and settlement system in the world securities market by group of thirty, of New York and London, copy right, March, 1989, group of thirty, New York/London: a review.

Abstract

The article focuses on the clearance and settlements system in the worlds' securities markets and proffers recommendations aimed at facilitating securities trading internationally. It is the report of the study carried out by the Group of Thirty- a private sector group concerned with improving the working and efficiency of the international financial system especially the operation of the world securities market. Largely the outcome of a symposium organised by the group in March 1989, it discusses the state of clearance and settlement practices in the world's major securities markets. The piece reflects an in-depth understanding of the risks and problems which confront participants in the securities market in the absence of an efficient clearing and settlement system. The report is divided into two parts. Part one comprises the recommendations, while part two presents the working papers of the working Committee.