Academic Journal
Distributed Ledger Technology and the Securities Markets of the Future: A Stakeholder Survey
| العنوان: | Distributed Ledger Technology and the Securities Markets of the Future: A Stakeholder Survey |
|---|---|
| المؤلفون: | Fox, Merritt B., Glosten, Lawrence R., Greene, Edward F., Guan, Sue |
| المصدر: | Faculty Scholarship |
| بيانات النشر: | Scholarship Archive |
| سنة النشر: | 2021 |
| المجموعة: | Columbia Law School: Scholarship Repository |
| مصطلحات موضوعية: | distributed ledger technology, public trading, proprietary data, order protection rule, technological arms race, debt markets, ordinary investors, digital coins, regulatory learning, Columbia Business Law Review, Law, Securities Law |
| الوصف: | This Article evaluates the implications of distributed ledger technology (DLT) for the securities markets of the future and their regulation. DLT is an integral part of the larger revolution in computing, communication and data storage capacity that has transformed securities markets over the last few decades and promises further radical change in the years to come. The potential of DLT, if it can be realized, could improve the functioning of our securities markets while at the same time sharply reducing costs. Based on an interview survey of about 100 persons who play prominent roles in actually making these markets work or in regulating them, this Article reports on the most important topics and themes that have emerged from the wide range of interviewees’ opinions about the extent to which DLT will affect the future of securities markets and their regulation. A significant number saw the potential for DLT to transform securities markets and market structure, from the possibility of stock trading on DLT to the potential impact on intermediaries, the ordinary retail investor, and on preventing wrongdoing in the stock market. However, key questions remain about implementation and the appetite for making DLT-based changes among both market participants and regulators. |
| نوع الوثيقة: | text |
| وصف الملف: | application/pdf |
| اللغة: | unknown |
| Relation: | https://scholarship.law.columbia.edu/faculty_scholarship/2838; https://scholarship.law.columbia.edu/cgi/viewcontent.cgi?article=3843&context=faculty_scholarship |
| الاتاحة: | https://scholarship.law.columbia.edu/faculty_scholarship/2838 https://scholarship.law.columbia.edu/cgi/viewcontent.cgi?article=3843&context=faculty_scholarship |
| Rights: | http://creativecommons.org/licenses/by/4.0/ |
| رقم الانضمام: | edsbas.611E73CD |
| قاعدة البيانات: | BASE |
| الوصف غير متاح. |