22 January 2010
by Hugh Simpson
Ruben Lee on governance of financial market infrastructures
Ruben Lee has published a magisterial work on the governance of financial market infrastructures – a key question that has never been explored so thoroughly.
While his report concentrates on how governance arrangements affect the efficiency and stability of markets, it prompted me to ask another question: are their governance arrangements a factor in the competitive positioning of infrastructure organisations? In other words, in a competitive market, are users more likely to use a particular infrastructure because they favour its governance structure? more >>