Clearing and Settlement (originally titled: Clearing and Settlement in Europe), Second Edition comprehensively explains, both in theory and practice, the complexities of the law and regulation surrounding the processes of clearing and settlement.

Clearing and Settlement:
1. Describes what happens in clearing and settlement, and the roles of (and risks assumed by) the various participants in the post-trade marketplace.
2. Explores the law applicable to infrastructures, how they are regulated, and considers the other topographical features of their legal landscape.
3. Examines the legal and practical aspects of risk management and operations of infrastructures.
4. Looks at the risks faced by participants in payment, clearing and settlement systems - the agent banks - along with practical and operational issues which they face in their roles.

New legislation includes:
* CSD (Central Security Depositories) Regulation and level 2 measures
* MiFID 2/MiFIR and level 2 measures
* EMIR and level 2 measures
* Banking Act 2009 revisions
* Bank Recovery and Resolution Directive
* Revised Part VII Companies Act 1989
* New Part XVIII of FSMA and Recognition Requirements Regulations
* Financial Services Act 2012

In addition to the coverage of the legislature, there are numerous diagrams and commonly encountered practical problems are discussed, eg 'client clearing', tax, regulatory capital and protective insolvency legislation. Risk and legal issues arising in clearing and settlement operations, eg liquidity, outsourcing, corporate actions and securities lending are also covered.