Electronic Trading Systems In Europe And Development Potentialities For Russia

Elektronische Handelssysteme in Europa und Entwicklungsmöglichkeiten für RusslandElectronic Trading Systems in Europe and dev......Page 1
Agenda......Page 2
Impact of Liquidity and Degree of Automation on Efficiency......Page 3
Transaction Costs on Equity Markets......Page 4
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......Page 6
Agenda......Page 7
Structure in Germany......Page 8
The Strategy of the regional exchanges......Page 9
Trend toward Internalization in Germany......Page 10
Deutsche Börse Group – a “Markets Company”......Page 12
Agenda......Page 13
Characteristics of the European Equity Market......Page 14
The European Landscape of Exchanges......Page 15
Drivers of Efficiency & InnovationTrends in Europe......Page 17
Electronic Communication Networks and Internalization as Competitors for Exchanges......Page 18
The Development of ECN´s in Europe......Page 19
Demutualization– Change in the Governance Structure......Page 20
Trend Toward Cooperation and Mergers......Page 21
3 Networks cover 75 % of the Settlement volume in Europe......Page 22
The New Trend:  Concept of Central Counterparty on Cash Markets in Europe......Page 23
Agenda......Page 24
Market Capitalization......Page 25
Russian Equity Market at the MICEX, Moskau Stock Exchange and RTS......Page 26
Main Problems in Russia – Discussion......Page 27
Innovative Market Models by RTS......Page 28