The future of financial exchanges
Foreword
Hubert Reynier, Vincent Gros
A history of the market, from « agents de change » to Euronext
Jean-Pierre Pinatton
Recent developments in the US capital markets
Mary L. Schapiro
A new organization for financial markets : what is at stake in the MiFID ?
Michel Prada
The contribution of stock markets in financing economic activity
Stock exchange development and economic growth
Takuo Tsurushima
The contribution of stock exchanges to the economic restructuring of Central and Eastern Europe
Wieslaw Rozlucki
The role of equity markets in financing economic activity
Patrick Artus, Jean-François Théodore
Fixed income : a new trend towards centralisation of trading on exchanges ?
Gianluca Garbi, Philippe Rakotovao
IPO procedures in Europe : the development of practices and perspectives
Emmanuel Boutron, Jean-François Gajewski
Carole Gresse, Florence Labégorre
The importance of stock markets for the future of financial centres
Michel Didier
Organization of exchanges, structures and transparent price discovery systems
Liquidity, cost of capital and the organization of trading in stock markets
Thierry Foucault
The future of stock exchanges : how issuers look at it ?
Alain Joly
Open outcry or electronic : it's the market's choice
James Newsome
Regulating for tomorrow's equity markets
Benn Steil
Economics of the industry, competition and infrastructure governance
Stock exchange demutualization : a precondition for their capacity to innovate ?
Andrew Sheng
Corporate governance of stock exchanges
Bertrand Jacquillat
Governance of market infrastructures - Key issues
Pierre de Lauzun, Ruben Lee
Market infrastructures : harmonisation of market practices and integration of systems
Joël Mérère
Alliances, new markets and new products from central counterparties : risks and challenges
Christophe Hémon
The evolution of central securities depositaries in Europe : stable functions in a changing environment
Gisèle Chanel-Reynaud, Dominique Chabert
Post-trading infrastructures : considering the risks to financial stability
Denis Beau
Equity markets and financial stability : regulatory issues
Vincent Fleuriet, Catherine Lubochinsky
Self-regulation and operational controls : reflections on the oversight of exchange-traded derivatives
Andrea Corcoran
