A surfeit of deregulation

Article Abstract:

The world is moving toward unregulated flow of international assets and deregulation of business. The old attitude of preserving competition within national boundaries via regulations is being replaced by a view of the whole world as a single competitive market. Much of the support for deregulation in the west was a reaction to the post-war era inflation aggravated by retail price maintenance, monopolistic supply of goods by nationalized industries, and cartels. Further support for deregulation comes from the internationalization of business and labor. The deregulation may have gone too far in some arenas, such as the American banks' loans to Third World nations and the computerized trading of stocks which aggravated the stock market crash of October 1987. In view of these events, there will be a move toward regulation of a more international nature.

Banking industry, Laws, regulations and rules, Accounting, Stock-exchange, Stock exchanges, Deregulation, Money market, Money markets

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The Stock Exchange transformed

Article Abstract:

Deregulation of the London Stock Exchange (LSE) has changed membership and trading practices. The merger of LSE with the International Securities Regulatory Organization has opened LSE membership to banks. Ownership of trading firms and LSE control by individual members is becoming obsolete. Investors now have the choice of dealing either through an agency broker or directly with a market maker. Fixed commission rates have been replaced by negotiated commissions, cutting commission charges for large institutions in half. It may be more difficult for private investors to enter the market, however. Agency brokers can now act take long or short positions while acting as market makers. The Stock Exchange is assuming a more global orientation. Electronic trading has largely replaced floor trading.

Management, Mergers, acquisitions and divestments, Securities, London Stock Exchange PLC, Great Britain, International Securities Regulatory Organization

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Floating currencies: fatigue sets in

Article Abstract:

Volatile exchange rates may finally lead to more solid currencies and possibly one capital market for Western Europe. A stable capital market is expected to result in new international investments. Monetary unity is resulting from the operation of the Exchange Rate Mechanism and the increasing use of the European Currency Unit.

Analysis, Prices and rates, Accounting and auditing, Foreign exchange, Foreign exchange rates, International economic relations, Monetary policy, Convertible money

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