"This book is a pivotal reference source for the latest scholarly research on the current developments in financial systems and how these processes are evolving due to new regulations and technical advances"--Provided by publisher.

We study settlement fails for trades in the Government of Canada bond market. We find that settlement fails do not occur independently. Using a novel and comprehensive dataset, we examine three drivers of fails. First, we find that fails are more likely following the release of surprise...

As Canada continues to engage in a dialogue to develop the approach to modernizing its core payment systems, we analyze the core payment systems that exist in countries around the world. We study payment systems in 27 jurisdictions, encompassing a broad range of geographic regions, through three...

This report contains new and more demanding international standards for payment, clearing and settlement systems. Issued for public consultation by the CPSS and the Technical Committee of the International Organization of Securities Commissions (IOSCO), the new standards (called "principles")...