This second edition comprehensively explains, both in theory and practice, the complexities of the law and regulation surrounding the processes of clearing and settlement. Contents include: clearing and settlement and the roles of (and risks assumed by) the various participants in the post-trade marketplace; how the law is applicable to infrastructures, how they are regulated, and the other topographical features of their legal landscape; the legal and practical aspects of risk management and operations of infrastructures; and the risks faced by participants in payment, clearing and...