Study of International Clearing and Settlement. Volume 6. IBM Study of Clearance and Settlement for the U.S. Congress

摘要

The document reports the results of a study conducted by the International Business Machines Company (IBM) for the U.S. Congress - Office of Technology Assessment (OTA). The document is part of a larger document being supplied by Bankers Trust Company to the OTA. The Bankers Trust Company document describes the clearance and settlement business process, and the IBM document covers the use of automation in the clearance and settlement process. 'Clearing and settlement' refers to the processing aspect of trading on the world's stock, futures, and options exchange, as well as the processing of trades which are done outside of any organized exchange. The information in each section of the document is organized into the following major categories: Evolution of information technology; Impacts of information technology; External factors which influence the use/non-use of technology; Future direction and use of information technology. These categories focus on the past and present use of automation, benefits/problems of automation, and trends.