Negotiable Instruments
169565237
The Product Characteristic of Electronic Money from the Perspective of the Negotiable Instruments Law
The development of currency trading is not only using the cash as a payment instrument for a transaction. For example is the emergence of non cash payments such as negotiable instruments. That type of instrument offers a more effective and safer way than using the cash. Along with the development of the technology, a non cash payment innovation emerged, which characteristics, at a glance, similar to negotiable instruments, such as credit cards, debit cards, and electronic money products which gives a safer and more efficient way than using the cash for a transaction. Based on this, led to the view that non cash payment instruments such as credit cards, debit cards, and electronic money products can be classified as negotiable instruments. However, that classification must be done by reviewing the relevant regulations, such as Commercial Code and else and also observing the doctrines in the perspective of the science concerned, to state that the development of such instruments can be classified as negotiable instruments or not. Keywords: Negotiable instruments, Letter of Value, Credit Cards, Debit Cards, Electronic Money Products, Classification
Geigiansyah Aulia Putra Hilda Yunita Sabrie Prawitra Thalib
226332770
STRESS INDEX IN UKRAINE'S MARKET OF NEGOTIABLE FINANCIAL INSTRUMENTS
I S Kravchuk
169216002
Suchasni tendentsiyi elektronnoyi torgivli obigovimi finansovimi instrumentami Modern trends of electronic trading by negotiable financial instruments
Mizhnarodni rinki obigovikh finansovikh instrumentiv kharakterizuiut'sia visokim rivnem elektronizatsiyi, shcho vidobrazhaiet'sia zastosuvanniam konsolidovanoyi knigi limitnikh orderiv, rozshirenniam spektra torgovel'nikh orderiv, intelektual'noiu marshrutizatsiieiu orderiv, visokoiu shvidkistiu dostupu do rinku na osnovi minimizatsiyi latentnosti. Naslidkom elektronizatsiyi rinkiv ie rozvitok visokochastotnoyi torgivli, pozitivnimi risami iakoyi ie zbil'shennia torgovel'noyi aktivnosti ta rinkovoyi likvidnosti, znizhennia transaktsiinikh vitrat toshcho. Golovnim nedolikom visokochastotnoyi torgivli ie potentsiinii negativnii vpliv na rinkovu stabil'nist' cherez imovirni programni zboyi, manipuliativni mozhlivosti algoritmichnikh strategii, zokrema, tekhnichnii arbitrazh, vikoristannia gomogennikh strategii, kiber riziki. Isnuiucha sistema visokochastotnoyi torgivli potrebuie zakhodiv z boku reguliatornikh organiv shchodo podolannia informatsiinikh gepiv ta posilenogo monitoringu dlia stvorennia reguliatornogo seredovishcha, iake b vrakhovuvalo iak aspekti pidtrimki rozvitku rinku, tak i iogo stabil'nosti na osnovi vidpovidnogo makroprudentsiinogo instrumentariiu, zokrema, zdiisnennia stres testuvannia reaktsiyi visokochastotnikh algoritmiv na shoki riznogo pokhodzhennia, z urakhuvanniam agregovanogo rinkovogo efektu vzaiemnogo vplivu riznikh algoritmichnikh strategii. International negotiable financial instrument markets have a high level of electronic trading. It is displayed using the consolidated limit order book, the widening the range of trading orders, smart order routing, high speed access to the market on the basis of latency minimizing. The result of electronic trading is the development of high frequency trading, the positive features of which are the increase of trading activity and market liquidity, and the reducing of transaction costs. The main drawback of high frequency trading is the potential negative impact on market stability (software failures, the manipulative incentives of algorithmic strategies, in particular, technical arbitrage, the use of homogeneous strategies, cyber risks) The current system of high frequency trading requires particular actions from the regulators to overcome information gaps and enhanced monitoring to create a regulatory environment that could take into account both the aspects of supporting market development and its stability through appropriate macroprudential instruments, especially the implementation of the stress testing of the high frequency algorithms in response to the shocks of various origin, taking into account the aggregate market effect of the mutual influence of different algorithmic strategies.
Igor Sviatoslavovich Kravchuk
169280627
OPERATIONALIZING THE INDIRECT INSTRUMENTS OF MACROPRUDENTIAL POLICY IN THE NEGOTIABLE FINANCIAL INSTRUMENTS MARKET
Holistic system of macroprudential policy for the negotiable financial instruments market in the context of the instrumental operationalization on the basis of systematization of existing and development of proposals for the introduction of new tools are studied in the article for create a coherent indirect macroprudential regulation complex in this area. Macroprudential tools in the framework of the operationalization require research of regulatory action duplication and identification possible conflicts, because the enhanced effect of a such instruments combination may affect adversely in the market and its participants. The implementation of new or use of existing macroprudential instruments in the context of non bankig financial institutions (investment funds, insurance companies, pension funds, investment firms) are explored concerning their activities in the negotiable financial instruments market.
I S Kravchuk
108990116
The End of Negotiable Instruments: Bringing Payment Systems Law Out of the Past
Introduction Chapter 1 The Sorry State of Modern Payment Systems Law Chapter 2 The Puzzling Persistence of the Law of Checks and Notes Chapter 3 Paperless Paper Chapter 4 Reports of the Death of the Holder in Due Course Doctrine Are Greatly Exaggerated. Chapter 5 A Visit to the Museum of Negotiable Instruments Law Chapter 6 The Bank Always Loses Chapter 7 Are Checks Ever Transferred? Chapter 8 What Would a Modern Law of Promissory Notes Look Like? Chapter 9 What Would a Modern Law of Checks Look Like? Chapter 10 Overcoming the Past Index
James Steven Rogers
211409473
A Treatise on the Law of Negotiable Instruments
John W Daniel
152639381
The Law of Negotiable Instruments: Statutes, Cases and Authorities
Ernest Wilson Huffcut Frederick Diamond Colson
153739201
Negotiable Instruments Law
The Negotiable Instruments Law has now been adopted by twenty states' as well as for the District of Columbia, and there is little doubt that in a very few years, at the longest, it will be the law throughout this country. Aside from the importance of the subject with which it deals, the act claims a peculiar interest as being the first important step taken in this country towards codifying any branch of the law. In 1878, Judge Chalmers published his digest of the law relating to bills of exchange, in the preparation of which he read through all the English cases (some twenty five hundred in number) beginning with the first reported case in 1603. Where there was a dearth of English authority, he states that he had recourse to the American decisions and to the usages among bankers and
Louis C Haggerty
39678200
Revision of the Negotiable Instruments Law
In the latter part of 1926, the National Conference of Commissioners on Uniform State Laws, through its Committee on Amendments of Uniform Acts, undertook the preparation of a series of amendments to the Negotiable Instruments Law. The time for such action seemed particularly appropriate inasmuch as the act had then been adopted by all of the states, though with minor variations in text in many cases. There had been a considerable amount of experience with the statute; for in the principal commercial states it had been in effect from twenty to thirty years. That there was need for some action to harmonize the conflicting interpretations which had developed, and possibly to reconcile the variations in provisions of the different statutes, was scarcely open to question, if the original objective, a uniform body of law relating to negotiable paper, was to be realized to the extent reasonably possible. The committee designated Professor Williston to undertake the work, a singularly happy appointment. At the outset a question arose in the committee as to whether a comprehensive revision of the act should be undertaken, the alternative being to draft only such amendments as would be necessary to correct the more serious conflicts. Practically, there is much force in the argument for the latter alternative, as it is a long and difficult process to get uniform legislative action in each of the forty eight states. This argument works both ways, however, as it has been suggested that any action at this time, if it must be adopted in all states before any other steps are taken, would postpone for many years the drafting of any additional amendments that might later seem desirable. Thus the attempt at the beginning to agree upon a formula of comprehensive or limited revision was probably waste motion. Of first importance would be a survey of all points regarded as perhaps needing amendment. There is, however, room for considerable discussion as to the character of any revision, whether limited or comprehensive in scope. Should it be confined, in the interest of greater clarity and accuracy of expression, to the correction of verbal inconsistencies in the present act? There are many of these, as would no doubt be true in the case of any piece of legislation covering so involved a subject. But notwithstanding these difficulties,
Roscoe B Turner
150010075
The Negotiable Instruments Law
The Negotiable Instruments Law has now been adopted by twenty states' as well as for the District of Columbia, and there is little doubt that in a very few years, at the longest, it will be the law throughout this country. Aside from the importance of the subject with which it deals, the act claims a peculiar interest as being the first important step taken in this country towards codifying any branch of the law. In 1878, Judge Chalmers published his digest of the law relating to bills of exchange, in the preparation of which he read through all the English cases (some twenty five hundred in number) beginning with the first reported case in 1603. Where there was a dearth of English authority, he states that he had recourse to the American decisions and to the usages among bankers and
A M Kidd Joseph Doddridge Brannan