Financial intermediaries are forced to elaborate innovative strategies following the changes in the environment and the evolution of the competitive landscape. In particular, in order to survive in a more and more competitive environment financial intermediaries are required to innovate their organisational models and their products.
The course presents the main innovations in the regulation and in the strategic behaviour of financial intermediaries.
The course is mainly divided in two parts concerning banks and stock exchanges. The first part intends to analyse the strategies implemented by Italian and foreign banks over the last twenty years.
On the other hand, the second part focuses on the Economics of a Stock Exchange in order to understand the characteristics of this particular business. In particular the course focuses on the value chain of a Stock Exchange analysing the listing, the trading and the post-trading. Particular emphasis is devoted to the comparison among the European Stock Exchanges in order to identify their successful strategic choices.