Local institution making and the securities trading centres, 1984–98

2016 ◽  
Vol 70 (4) ◽  
pp. 473-495
Author(s):  
Henry B. Wonham

Henry B. Wonham, “Realism and the Stock Market: The Rise of Silas Lapham” (pp. 473–495) William Dean Howells’s The Rise of Silas Lapham (1885) is usually approached as a representative text in the American realist mode and an unambiguous expression of Howells’s disdain for—in Walter Benn Michaels’s words—“the excesses of capitalism,” especially as embodied in the novel’s rendering of “the greedy and heartless stock market.” Like many commentators of the period, Howells promoted a traditional view of honest industry against the emerging phenomenon of speculative finance, and yet to read the novel as an allegory of opposition to Wall Street speculation is to oversimplify Howells’s complicated attitudes toward high finance and to make a caricature out of the novel’s treatment of complex economic developments. In this essay, I reassess Silas’s investment career and the novel’s surprisingly dense engagement with the dynamics of securities trading as a form of commerce. Critics such as Michaels and Neil Browne have contended that through Silas’s failed investment career, Howells “attempts to disarticulate…an emergent market ethos,” but as I read the novel this same “market ethos” is inseparable from Howells’s conception of realism and of the vocation of the literary realist.


Author(s):  
Tobias Berger

This chapter embeds contemporary translations of ‘the rule of law’ in their historical trajectory. It reveals how the introduction of village courts by the colonial administration at the dawn of the twentieth century and current efforts by international donor agencies to activate these village courts follow strikingly similar logics. The village courts are therefore neither an exclusively global imposition nor an ostensibly local institution; instead, they have emerged in complex processes of translation in which the global and the local have become inseparably intertwined. Having reconstructed this historical trajectory, the chapter also provides a brief overview of Bangladesh’s recent political history and maps the country’s contemporary legal landscape.


2009 ◽  
Vol 109 (8) ◽  
pp. 1069-1084 ◽  
Author(s):  
Siriluck Rotchanakitumnuai ◽  
Mark Speece

2003 ◽  
Vol 64 (4) ◽  
pp. 283-299 ◽  
Author(s):  
David J. Gregory ◽  
Wayne A. Pedersen

Librarians typically view interlibrary loan (ILL) as a means of providing access to items not owned by the local institution. However, they are less likely to explore ILL’s potential in providing timely access to items locally owned, but temporarily unavailable, particularly in the case of monographs in circulation. In a two-part study, the authors test the assumption that, on average, locally owned books that a patron finds unavailable (due to checkout) can be obtained more quickly via recall than via ILL. Phase 1 of this study establishes an average turnaround time for circulation recalls in a large academic library for comparison with well-established turnaround times for ILL borrowing transactions. In Phase 2, a more rigorous paired study of recalls and ILL compares the ability of each system to handle identical requests in real time. Results demonstrate that, under some circumstances, ILL provides a reasonable alternative to the internal recall process. The findings also underscore the need for more holistic, interservice models for improving not just access, but also the timeliness of access, to monograph collections.


The book provides a comprehensive and authoritative analysis on the regulation of financial markets and market infrastructure. It focuses on stock markets and exchanges, associated trading, clearing, and settlement, and on payment systems, set in their historical and current contexts. This new edition addresses a number of major developments that have impacted the UK, wider European and international financial markets, such as within the UK, the PRA, the FCA and the Bank of England have become established financial regulators, each with its distinguishing responsibilities; MiFID has been substantially revised and strengthened through new directly applicable EU regulation; MiFID 2 also addresses the challenges posed by the use of fast-technology such as high frequency and algorithmic trading; and new technology is beginning to make an impact on the infrastructure of financial markets. This new edition includes updated content on the growing importance of financial technology with two new chapters on the emerging impact of financial technology on markets and on the regulation of markets. There is also a new chapter on MiFID 2 and MiFIR – the new securities trading architecture that will see the introduction of a new trading venue as well as significant changes to and the pre- and post-trade transparency and reporting regime. The introduction of mandatory trading of derivatives on trading venues is addressed together with the related post-EMIR regime for the mandatory clearing of certain classes of derivatives. Chapters on the role of the European Commission and ESMA have been updated, and consideration is given to the possible implications of Brexit for market location and access


2021 ◽  
pp. 54-70
Author(s):  
S. R. Moiseev

In 2022, Russian investors will get access to the wide possibilities of the global financial market. The Bank of Russia opens the market for foreign exchange-traded funds (ETFs) — one of the main savings instruments for households. The economy of ETFs differs from other investment funds, whose shares do not have secondary market. The opening of the ETFs market is intended to solve a number of issues for retail investors: moving away from the preference to individual foreign shares towards portfolio diversification, cost reduction, ensuring sustainable profitability, abandoning the aggressive securities trading, and supporting market competition. Soon, ETFs will be one of the driving forces in financial markets. However, their rapid growth is fraught with little-studied effects.


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