February 2003
Beginner
208 pages
4h 55m
English
Content preview from Understanding the Markets
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Chapter 6
The role of the exchange
T
he financial markets are divided into those where trading takes
place under the rules and regulations of an organized market
and those where the trading takes place over-the-counter. The role of
the exchange is an important one as it provides not only facilities for
trading but also end users with a degree of comfort that such trading
is taking place in a regulated environment. From an operations point
of view the structure of the exchange will provide the clearing
organization and also the product specifications as well as essential
data for the clearing and settlement processes.
An exchange first and foremost must ...
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