The public opinion poll analysed in this report was carried out in the fifteen Member States between 27 April and 10 June 2002 for Eurobarometer 57.2, at the request of the European Commission, Directorate-General for Justice and Home Affairs, and organised by the Press and Communication...

This report provides the results from an analysis of characteristics and operations of the EU’s illicit drugs market as called for by the European Commission. The study is a follow-up of the earlier European Commission study presenting an analysis of the developments of the global illicit...

Drugs and drug-related problems are major concerns for EU citizens and pose a threat to the safety and health of European society and its citizens. The use of drugs, particularly among young people, is at a historically high level. The European Commission has been studying the drug phenomenon in...

The public opinion poll analysed in this report was carried out in the fifteen Member States between 27 April and 10 June 2002 for Eurobarometer 57.2, at the request of the European Commission, Directorate-General for Justice and Home Affairs, and organised by the Press and Communication...

Exchanges and other trading platforms are often vertically integrated to carry out trading, clearing and settlement as one operation. We show that such vertical silos can prevent efficiency gains from horizontal consolidation of trading and settlement platforms to be realized. Independent of the...

The competition between a central securities depository (CSD) and a custodian bank is analysed in a Stackelberg model. The CSD sets its prices first, the custodian bank follows. There are many investor banks each of which has to decide whether to use the service of the CSD or of the custodian...

This paper compares securities settlement gross and netting architectures. It studies settlement risk arising from exogenous operational delays and compares settlement failures between the two architectures as functions of the length of the settlement interval under different market conditions....