List of figures; List of abbreviations; Acknowledgements; Foreword; 1. Introduction; 2. Setting the stage - definitions and industry setting; 3. Defining the core issues - efficiency and network strategies; 4. Collecting empirical insights - introduction to the empirical study; 5. Analysing costs of derivatives clearing - transaction cost studies; 6. Exploring theoretical basics - scale effects in clearing; 7. What theory reveals - framework for efficiency analysis of network strategies; 8. Checking theory against reality - case studies of network strategies; 9. Quantifying the efficiency impact - European network strategies; 10. Introducing the future network economy - development of the clearing industry; 11. Summary, discussion and recommendations for future research; Appendices; Bibliography; Index.