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Part V European Markets and Exchanges, 14 Regulation and Consolidation of European Markets and Exchanges

Peter Nobel, Markus Kaempf

From: Financial Markets and Exchanges Law (2nd Edition)

Edited By: Michael Blair, George Walker, Stuart Willey

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 27 September 2023

Stock market and exchanges — Issue and trading of securities — Listing — Securities clearing system — Securities settlement system — Shares — Bonds — Central counterparty (CCP) — European Securities and Markets Authority (ESMA) — Market Abuse Directive (MAD) — Market abuse — Insider dealing
14.01 Most treatises and textbooks on financial or capital markets law discuss many subjects, but say surprisingly little about the regulation of the marketplaces themselves. The focus is regularly on the regulation of the marketed products, on the conduct of the issuers and operators, and, more recently, on the distribution of financial instruments. In contrast to this common practice and in line with the general approach of this textbook, this chapter puts an emphasis on the (oft-omitted) matter of the regulation of the marketplaces themselves. 14.02 The basic...
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