Central counterparty (ccp)
After three years of work, client clearing volumes have started to rocket in recent months – but it may not be enough to avoid a last-minute stampede. Tom Newton reports
Gazprom's UK-based trading subsidiary is hoping not to be hit by a clearing requirement - but has been doing its sums just in case, the company's treasurer, Michael Kawski, tells Lukas Becker
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More Central counterparty (ccp) articles
A little over five months ago, on April 16, 2012, new and improved regulatory standards were published: the twenty-four Principles for Financial Market Infrastructures of the Committee on Payment and Settlement Systems (CPSS) and the International Organization...
The global financial crisis has driven several trends in wholesale financial markets that have led to a higher demand for high-quality collateral. More transactions are now secured instead of unsecured on the money market, and, in overthe-counter derivatives...
We study the pricing of a continuously collateralized credit default swap (CDS). We make use of the "survival measure" to derive the pricing formula in a straightforward way. As a result, we find that, even under a perfect collateralization, there exists...
Fees charged by clearing members can vary wildly – and low-cost providers may try to terminate relationships if they prove unprofitable, panellists warn
Dealers, clients and clearing houses need to work together to resolve problems caused by intraday margin calls, say panellists
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.
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