Interests in Securities
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Interests in Securities: A Proprietary Law Analysis of the International Securities Markets

Interests in Securities: A Proprietary Law Analysis of the International Securities Markets


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About the Book

This book provides a uniquely clear and accessible analysis of the legal aspects of the international markets in securities (such as shares and bonds). It considers the legal implications of the computerisation and globalisation of these markets, and in particular the impact of the use of custodians, depositaries and other intermediaries by investors and collateral takers holding interests in securities. In the light of this analysis, the book goes on to consider a range of both traditional and innovative services and products in the international securities markets. These include a range of collateralisation techniques (including secured lending, repurchase agreements, securities lending and derivatives collateral) custody, settlement and repackaged securities (including managed funds and collateralised bond obligations). The position under both domestic and private international law is considered. The book is written in plain language so as to be accessible to the relative newcomer to the field, and to market professionals as well as lawyers. However, it is also sufficiently detailed to provide a valuable source of reference and analysis for experienced practitioners engaged in managing legal risk in cross-border securities collateral and investment. Given the global nature of the securities markets, it will be of international relevance and appeal.

Table of Contents:
PART I: OVERVIEW: 1: Introduction to Securities, Interests in Securities, the Securities Markets and Settlement 2: The Legal Nature of Securities and Interests in Securities PART II: DELIVERIES: 3: Transfers 4: Securities Collateral 5: Security Interests 6: Outright Collateral Transfers 7: The Conflict of Laws and Securities Collateral 8: Collateralizing Clearing Exposures PART III: INFRASTRUCTURE PRODUCTS AND SERVICES: 9: International and UK Securities Settlement 10: Global Custody, Prime Brokerage and Straight Through Processing PART IV: REPACKAGED PRODUCTS: 11: Depositary Receipts and Managed Funds 12: Collateralized Bond Obligations and Related Structures PART V: CONCLUSIONS 13: Property Rights in Interests in Securities 14: The Development of Interests in Securities

About the Author :
Joanna Benjamin is Senior Lecturer in Law, Centre for Commercial Law Studies, Queen Mary and Westfield College, London, and Consultant at Clifford Chance, London.

Review :
`The great strength of the book ... is the account of how current financial products and services are legally structured ... the breadth of coverage and the application of the law to how things currently work in the City are very helpful.' Law Quarterly Review, 1 Oct 2001 `Dr Benjamin's book is invaluable as a detailed and systematic account of the structure and operation of securities markets. Her knowledge of recent developments in this field in the UK is masterly, and her book is carefully researched.' Trust Law International , Vol15, No2 2001


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Product Details
  • ISBN-13: 9780198269922
  • Publisher: Oxford University Press
  • Binding: Hardback
  • Language: English
  • Returnable: N
  • Sub Title: A Proprietary Law Analysis of the International Securities Markets
  • Width: 176 mm
  • ISBN-10: 0198269927
  • Publisher Date: 28 Dec 2000
  • Height: 254 mm
  • No of Pages: 392
  • Spine Width: 25 mm
  • Weight: 855 gr


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Interests in Securities: A Proprietary Law Analysis of the International Securities Markets
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Interests in Securities: A Proprietary Law Analysis of the International Securities Markets
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