Seeking security

Cover story

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The market turmoil of the past year - particularly since the September 15 bankruptcy of Lehman Brothers - has led to major concerns about counterparty risk, as investors and dealers reassess their interpretations of which institutions are really 'too big to fail'. This prompted calls for financial entities to make more use of regulated, guaranteed platforms such as exchanges and over-the-counter (OTC) clearing service for derivatives contracts. Many market participants - especially instituti