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01 July 2020:
Please pay attention for the changes in the time table for the second block!
30 June 2020:
The NEW exam dates (due to COVID-19) are available now. For information about date, time, and place, please see below. Registration for the first and the second exam via QISPOS are now open!
20 May 2020:
Information on the WebEx online sessions (including meeting IDs and passwords) can be found in the ISIS2-page of the course.
14 April 2020:
Due to current circumstances, the lecture will be held online. Information about the choice of the conferencing software will be posted here in due time. Note, however, that the dates and times of the online lectures have changed!
The online format for the second block is still tentative. If TU Berlins opens up for the second half of the term, the lectures will be held physically at TU Berlin. A definite decision on the format will be communicated in June 2020.
Organization
Lecturer: | Prof. Dr. Ulrich Bindseil, European Central Bank Contact: ulrich.bindseil@ecb.int | ||||||||
| Lectures: ("full-day" lectures) !!! NEW DATES !!! |
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| Office hours: | by appointment, before or after the lecture | ||||||||
| Study Programs: | For students of: Master of Industrial and Network Economics (MINE), Wirtschaftsingenieurwesen MSc, Economics BSc, Wirtschaftsingenieurwesen BSc, Innovation Management, Entrepreneurship and Sustainability MSc Course form: Lecture series (2 SWS), 6 ECTS. | ||||||||
| Registration: | registration through chair required, by e-mail to Steffen Ahrens (steffen.ahrens@tu-berlin.de) | ||||||||
| Module: | Module description for summer term 2020 | ||||||||
| Examination: | classroom presentation and final exam | ||||||||
| Grading: | The portfolio examination consists of the exam and the presentation, adding up to a maximum of 100 credits. Exam and presentation have equal weight. The grading follows the joint conversion key of the School of Economics and Management (decision of the school's council dated May 28, 2014 - FKR VII-4/8-28.05.2014). | ||||||||
| Exam Registration: | TU students: Please register the usual way (QISPOS or yellow sheet from the examination office). Other students: Registration procedure will be announced in class. | ||||||||
| Exam: | First exam: 31st July 2020, 12:30pm-2pm, room EB 301 Second exam: 15th October 2020, 12:30pm-2pm, room EB 301 | ||||||||
| Outline: | The course is intended to endow students with the theory and practice of financial market infrastructures, including the relevant financial market instruments, systems, institutions, message formats, legal and regulatory frameworks. Students will be able to understand how financial market operations (including those by the central bank) are actually implemented and anchored, and what economic issues arise in this context. The course covers the basic functioning of key market infrastructures (CSDs, securities settlement systems, CCPs, CLS, etc.), payment systems (RTGS systems, netting systems, retail payment systems, etc.), and messaging formats and networks (ISO20022, SWIFT). Key related economic questions are identified, such as: efficiency, network externalities, competition, standardization, resilience, cases for regulation, etc., relying on the existing academic literature. | ||||||||
| Course Material | The course material can be found at the ISIS2-page at: isis.tu-berlin.de/course/view.php. TU students register for the course directly with their TUBIT-Account. Guest students from other institutions log in as guest (Gast). The key to the website will be sent to you upon registration. |
Literature
| Literature: | |
| Banque de France (2018), Payments and market infrastructures in the digital era. publications.banque-france.fr/sites/default/files/media/2019/06/28/819029_livre_paiements_infrastructures_en_v3.pdf | |
| CSPP-IOSCO (2014), Principles for Financial Market Infrastructures (PFMI), Bases, BIS. www.bis.org/cpmi/publ/d101a.pdf | |
| Kokkola, T. (ed.) (2008), The Payment System. Payments, Securities and Derivatives, and the Eurosystem. ECB Publication. www.ecb.europa.eu/pub/pdf/other/paymentsystem201009en.pdf |