Innovation in financial services. Charles Goldfinger IDATE Montpellier, November 20, 2002. www.gefma.com. www.fininter.net. Innovation in financial services. Discussion points Ubiquitous and paradoxical change IT and financial services: Stormy relationship
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Montpellier, November 20, 2002
Larger marketsCo-operative systems
Regulation ATS (1999)
Boom in volumes.
UK ”Big Bang”
Competitive deregulation in the EU
Back office rationalization:
Euroclear (FR, BE, NL, 2002)Co-operative systems
US – Europe evolution
Financial services is the domain where Internet impact has been the strongest
E-commerce market share
(in % of total turnover)
Not a Killer application !
Transaction costs fall
Relations proliferationInternet and intermediation