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Foreword
Steven Jameson, Editor
Welcome to
the autumn supplement 2006 edition of Financial Bridges!
In previous issues we looked at a number of important aspects
within the financial sector. This edition concentrates on
areas constantly raising questions from our readers. This
time, we have put a strong emphasis on Risk and Clearing
and Settlement. We have compiled as a regular feature some
relevant news for the financial, and financial technology
market and relevant to the activities in the IFCs. Financial
Bridges has invited top-level contributors, each a specialist
in their field, to guide you through some new developments.
Our standout features include a number of quality articles:
Matthias Ganz, Chief Operation Officer, Deutsche Börse
AG tells us about the initiative known as the European Code
of Conduct on cash equities clearing and settlement, which
was presented by the industry to the European Commission
in the beginning of November 2006. A market-led initiative
by the exchange and post-trade industry to work towards
a consistent, coherent and cost-efficient European framework
for cross-border equities trading, clearing and settlement.
Target1 has proven itself enabling intra-day finality for
payments between banks, using central bank money. Why replace
a new system with another one, in what for a clearing system
is record time? What benefits does TARGET 2 offer over TARGET
1?
What is the impact of TARGET 2 on the 1,525 banking institutions
that use it? These are a number of questions which answers
will be given to us by Peter Miller from Dovetail Systems.
... So in one sense, Financial Bridges
lives up to its name, seeking to create communication between
different sectors of the financial world and establish common
ground. We hope you enjoy this edition of Financial Bridges.
Foreword:
Steven Jameson
News:
A round up of what's been
happening in the market
place
Industry
Insight:
CODE OF CONDUCT A MARKET-LED INITIATIVE
Matthias Ganz
A SUPERVISORY PERSPECTIVE ON ENTERPRISE
RISK MANAGEMENT
Susan Schmidt-Bies
TARGET 2 - WHY?
Peter Miller
PROGRESS
TOWARDS REALISING THE SEPA
Karen S. Cohen
Reference:
FORTHCOMING
EVENTS
Important dates for your diary
DIRECTORY
Associations, IFC's, Central Banks
and Technology
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