Payment Systems Studies

CONTENTS
The Federal Reserve Wire Transfer Network
An Overview of the Operations of The Options Clearing Corporation
Clearing and Settlement Through the Board of Trade Clearing Corporation
The Chicago Mercantile Exchange
A Study of Large-Dollar Payment Flows Through CHIPS and Fedwire
Securities Lending
CHAPS: The Clearing House Automated Payment System
CHIPS: The Clearing House Interbank Payments System
Trading of Foreign Currency Options and Futures in Philadelphia
The International Money Markets in London and First Chicago's Role In Clearing and Settling for Dollar Instruments
Exchanges and Clearing Houses For Financial Futures and Options in The United Kingdom
Clearing and Settling the Euro-Securities Market: Euro-Clear and Cedel