[...]This paper examines some of the potential consequences ofGLB for the structure of the U.S. financial services industry. Init, we ask how the industry may evolve as this new legislationinteracts with the consolidation trend already under way, whattypes of mergers are most likely to occur,...

This paper examines how asymmetric information influences foreign-exchange trading between global custody banks and their client funds. The clients can negotiate prices with the custody bank dealers or simply instruct their representative at the custodian to carry out the trade. With...