Competition between financial markets reshaping global economy and investment landscape
The article discusses competition between different types of financial markets and how they interact. It looks at how organized exchanges compete with over-the-counter markets, and how they can benefit from offering clearing services. The article also talks about crisis resolution in the financial system and how the private sector adapts to minimize public sector involvement. Lastly, it examines the integration of European equity markets and how global factors are becoming more important in certain industries.