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Analyzing the Economics of Financial Market Infrastructures

Analyzing the Economics of Financial Market Infrastructures
Author(s)/Editor(s): Martin Diehl (Deutsche Bundesbank, Germany), Biliana Alexandrova-Kabadjova (Banco de México, Mexico), Richard Heuver (De Nederlandsche Bank, The Netherlands)and Serafín Martínez-Jaramillo (Banco de México, Mexico)
Copyright: ©2016
DOI: 10.4018/978-1-4666-8745-5
ISBN13: 9781466687455
ISBN10: 1466687452
EISBN13: 9781466687462

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Description

The prosperity and stability of any economic structure is reliant upon a foundation of secure systems that regulate the movement of money across the globe. These structures have become an integral part of contemporary society by reducing monetary risk and increasing financial security.

Analyzing the Economics of Financial Market Infrastructures is a pivotal reference source for the latest scholarly research on the current developments in financial systems and how these processes are evolving due to new regulations and technical advances. Featuring extensive coverage on a range of relevant topics on payment systems, central securities depositories, central counterparties, and trade repositories, this book is an essential reference source for professionals in the financial sector, analysts, IT professionals, and academicians concerned with emerging research on financial markets.

This book features timely, research-based chapters on a variety of crucial topics including, but not limited to, payment timing, multi-layer networks, transaction simulations, payment system analysis, and regulation of financial marketplaces.



Author's/Editor's Biography

Martin Diehl (Ed.)
Martin Diehl is currently a payment system analyst with the Deutsche Bundesbank. His analysis covers mainly TARGET2 and related issues. He is particularly interested in simulations, liquidity efficiency issues and topology of the payment system network. He is a trained economist (Diplom-Volkswirt and M.A. econ.) and philosopher and got his PH.D. from University Gießen, Germany. He joined Deutsche Bundesbank in 1998 as an economist. After five years as head of the speech writing group for the president he was seconded to the embassy in Beijing, serving as a representative of Deutsche Bundesbank to China. In 2008, he joined the department for payment and settlement systems in Deutsche Bundesbank.

Biliana Alexandrova-Kabadjova (Ed.)
Biliana Alexandrova-Kabadjova has been working at the Banco de México since 1997 and currently she is a payment systems analyst. She is a member of the Mexican National System of Researchers since 2009 and is a Visiting Fellow at the University of Essex. Her main contribution has been to build the most advanced model (in terms of complexity and realism) of the payment card market. Further, in relation to financial market infrastructures, she has developed a framework under which one can learn about how the intraday liquidity flows. Alexandrova-Kabadjova has published several refereed journal papers and book chapters, and has co-edited the books Simulation in Computational Finance and Economics: Tools and Emerging Applications and Analyzing the Economics of Financial Market Infrastructures. She obtained her first degree with honors on Information Systems at the Instituto Tencologico y de Estudios Superiores de Monterrey, CCM in 1996. She received her Ph.D. in Computational Finance from the CCFEA from the University of Essex, UK in 2007. Her main research interests are in intraday liquidity, network analysis of market infrastructures and in agent-based computational economics.

Richard Heuver (Ed.)
Richard Heuver is a statistician in the payments division of the Dutch central bank since 1996. He was involved in the development of the data warehouse of the Dutch Large Value Payment System, closely monitoring statistics during the introduction of the cash euro in 2002. Afterward, he was more actively participating in the research on Large Value Payment Systems. His research focuses on stress scenario analysis, network topology, the interbank money market and identifying behavioral aspects and signs of liquidity problems with banks. Heuver graduated in physical education in 1985 and because of market prognoses started working for the central bank as a statistician in the Economics and Research Department. Since then he moved between several departments, always heavily involved in business intelligence and analysis of financial banking data.

Serafín Martínez-Jaramillo (Ed.)
Serafin Martinez-Jaramillo is a senior financial researcher at the financial stability general directorate at Banco de México. His research interests are: financial stability, systemic risk, financial networks, bankruptcy prediction and machine learning. He developed an agent-based financial market to study the link between agent behavior and the stylized facts in stock markets returns. Serafin has published book chapters, encyclopedia entries and papers in high impact international journals like: IEEE Transactions on Evolutionary Computation; the Journal of Economic Dynamics and Control, the Journal of Financial Stability and the International Journal of Intelligent Systems in Accounting, Finance and Management. He has also been member of the editorial committee of international conferences and reviewer of international journals like: IEEE Transactions on Evolutionary Computation, the Journal of Financial Stabilityy, the Journal of Economic Dynamics and Control, Applied Intelligence. Serafin holds a PhD in Computational Finance from the University of Essex, where he is currently a visiting fellow. He has belonged to the Mexican National Researchers System since 2009.

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