ISBN: 0860036634
Godina izdanja: 1989
Jezik: Engleski
Oblast: Finansije
Autor: Strani

W. A. Thomas - Securities Market
Philip Allan, 1989
236 str.
meki povez
stanje: dobro

Big Bang brought unprecedented changes to the Stock Exchange. This book provides a thorough and up-to-date account of the new market at work. Against a background of an analysis of the economic function of a security market, it provides detailed coverage of the working of the new screen based dealing, along with some of its problems, the structure and operation of the new gilt edged market, the primary market in industrial equities and the growth and operations of the traded options market.
Aspects of the quality of the new market are assessed, together with the achievements of the new financial conglomerates in the securities industry. Deregulation of the market has been accompanied by greater regulation of many of its activities as a result of the Financial Services Act of 1986.
The impact of the regulatory framework on the International Stock Exchange is covered. The book also looks at the growth of dealings in international equities and the important role occupied by International SEAQ.
`The Securities Market` is a valuable source for economists and professionals in finance, investment and banking.

Contents
Acknowledgements
1 The Function of a Market in Securities
Borrowers and Lenders
The Capital Market: Primary Markets
The Capital Market: Secondary Markets
Informational and Allocative Efficiency
Operational Efficiency
2 Big Bang: The Advent of Structural Change
The Origins of Big Bang
A New Dealing System
Market Participants
The Gilt-edged Market
The International Stock Exchange
3 The New Market: SEAQ
SEAQ
Trading
Settlement Procedures
Some Early Problems
End of the Trading Floor
The Great Paper Backlog
TAURUS
4 The New Market: Quantity and Quality
Turnover
Quality of Markets
Commissions
Dealing Spreads
CONT
Depth of Dealing
Overall Transaction Costs
5 The New Market: The Participants
New Players
New Trading Floors
Equity Market Makers
`The Little Men` at Work
Equity Inter-dealer Brokers (IDBs)
Agency Broking
6 The Gilt-edged Market
A New Framework
The Early Days
Inter-dealer Brokers
Money Brokers
Gilt-edged Agency Brokers
Turnover and Prices
Transaction Costs
Clients
Some Innovations
7 Traded Options
The Rise of Traded Options
Technicalities
Open Outcry
Transaction Costs
Some Uses
Users of Traded Options
Two Markets: Cash and Futures
8 The Primary Market
Institutional Framework
Volume of Issues
New Issue Methods
Costs of Issue
Rights Issues
Pre-emption Rights
9 Share Ownership
Institutional Investors
Impact on Markets
Personal Sector Shareholding
Wider Share Ownership
10 Regulation and Protection
The Financial Services Act
Prudential Controls
For the Protection of Investo
Compensation
Costs and Benefits
11 The Global Framework
Global Equities
SEAQ International
Turnover
Settlement
Transaction Costs
Global Links
12 Big Bang`s Legacy
Select Bibliography
Index

Great Britain
Great Britain Securities markets
Securities
Securities Great Britain
Stock Exchange (London, England)


Non-Fiction, Business & Finance, Economics, William Arthur Thomas