Today, in the light of the financial crisis, it has become part of the political agenda to strengthen payment, clearing and settlement systems, as well as repositories for data on the trades they process. The Journal of Financial Market Infrastructures is the first journal to focus on this exciting and dynamic sector, and aims to bring together a community of contributors from the constituent sectors to analyse financial market infrastructures to further the development of this emerging field.
The journal provides a balanced representation of academic and practitioner focused papers which are dedicated to analysing operational and regulatory effectiveness and efficiency of payment, clearing, settlement, trade repository systems; and the risks they manage, transmit and create.
The Journal of Financial Market Infrastructures considers submissions in the form of technical papers and policy-oriented papers (forum discussions), on the following, but not limited to, topics:
- Systemically Important Payment Systems
- Securities Settlement Systems
- Central Counterparties
- Central Securities Depositories
- Trade Repositories
- Settlement Risk and other FMI-related risks including interdependencies
- Infrastructure-Related Systemic Risk
- Network analysis of an FMI
- Critical Service Providers and non-bank payment service providers
- Correspondent banking
- Retail Payment Infrastructures (remote and Point-Of-Sale, ATM, virtual currencies)
- FMI Liquidity and Collateral Management
- Exchanges and Multilateral Trading Platforms
- Oversight and Supervision of Financial Market Infrastructures
- FMI-related standardization and legislation
This special issue contains papers covering central counterparty default management and stress testing.
In this issue of The Journal of Financial Market Infrastructures we have two papers on large-value payment systems and two papers on central counterparties.
This September issue includes: an Australian regulatory perspective on the over-the-counter landscape; an investigation into a less-cash society; central counterparties; and an evaluation of the Korean repo market
The papers in this issue discuss: the intraday liquidity needs of systemically important entities using simulations of the various Colombian financial market infrastructures; the network of properties of TARGET2; and the lines of defense of a central...
A case study of liquidity risks - The fountainhead: analyzing the impact of intraday liquidity on payment behavior - Governance of payment systems
Volume 3, Issue 1, 2014
Volume 2, Issue 4, 2014
Network indicators for monitoring intraday liquidity in BOK-Wire+ - Central counterparty links and clearing system exposures - Assessing financial market infrastructures’ systemic importance with authority and hub centrality - Is this bank ill?
Payment system design and participant operational disruptions - Optimal central securities depository reshaping toward TARGET2-Securities - Toward a uniform functional model of the financial infrastructure
The social and private costs of retail payment instruments - Designing an expert-knowledge-based systemic importance index for financial institutions - Liquidity and central clearing
To link or not to link? - The effects of settlement methods on liquidity needs in Japan - Card versus cash - Central banks and foreign collateral - Tourist Test interchange fees for card payments
Pricing, competition and innovation in retail payment systems - Network dynamics of TOP payments - Making the over-the-counter derivatives markets safe - Measuring free riding in large-value payment systems
The impact of microchips on payment card fraud - A central bank perspective on liquidity management - A dual consent approach for payments - Intraday patterns and timing of TARGET2 interbank payments
Auto-collateralization as a liquidity-saving mechanism - (In)efficient investment in financial market infrastructure - Estimating the intraday liquidity risk of financial institutions - Is collateral becoming scarce?