We empirically examine under what conditions lead financiers decide to finance a buyout through a syndicate of multiple investors and how these syndicates are structured, using a unique dataset of 865 European buyouts during 1999-2009. We rely on a theoretical framework that integrates the...

Relying on a unique dataset covering 366 buyout syndicates in Europe over the period 1999–2009, we empirically investigate the partnering decisions of lead financiers. We find that lead financiers select investors with whom they developed a prior relationship, either directly or indirectly....

This article outlines the benefits and risks of the distributed ledger technology (DLT) for the clearing and settlement of exchange-traded and OTC securities, followed by a description of the technology’s potential role for central counterparties and central securities depositories. Although...

This article outlines the benefits and risks of the distributed ledger technology (DLT) for the clearing and settlement of exchange-traded and OTC securities, followed by a description of the technology's potential role for central counterparties and central securities depositories. Although the...

Purpose: This paper aims to discuss the European Commission’s proposal for a central counterparty (CCP) recovery and resolution regulation. In this respect, the paper comments the consequences, risks and attention points for CCPs and their authorities. Design/methodology/approach: This paper...

This article outlines the benefits and risks of the distributed ledger technology (DLT) for the clearing and settlement phase of the trade life cycle and describes its potential role for central counterparties and central securities depositories. Although the industry is attempting to solve the...

This article provides an analysis of the various assets segregation requirements that central securities depositories (CSDs) need to adhere to. Omnibus segregation is likely to be preferred over individual client segregation in those jurisdictions where the legal rights of investors are...

This article describes the events leading up to the EURIBOR reform and the efforts to make EURIBOR compliant with the European Benchmark Regulation. It also explains the actions undertaken to transition from EONIA towards €STER and the reasoning behind the choice to recalibrate EONIA into...