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01 Jan 2002

The Securities Settlement Industry in the EU: Structure, Costs and the Way Forward

Mattias Levin / Karel Lannoo

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The current structure of the European securities market is in need of radical change. Developed in such a way that it reflects different national needs and preferences, the securities market seems ill-adapted to face the needs of a truly European capital market. The purpose of the present paper is to provide an overview of the securities settlement industry in Europe, to compare the cost structure of the different bodies and to discuss further liberalisation.