Mandated central clearing of over-the-counter derivatives was a centerpiece of post-crisis efforts to reduce systemic risk.
In this issue of The Journal of Financial Market Infrastructures I would like to draw your attention to an alternative to financial market infrastructures (FMIs): correspondent banking. Pictured as a network,...
Mandatory clearing for over-the-counter products has been analysed in forensic detail over the past few years – from central counterparty risk waterfalls to margin models, and from resolution plans to...
More Over-the-counter (otc) articles
SGX still the only Asian exchange with US regulatory approval
Today, regulation is a fact of life for OTC commodity derivatives traders. But in April 1994, it was somewhat novel, as Energy Risk reported at the time
Banks have often stepped in and out of the OTC energy derivatives market. In this article from August 2001, Energy Risk reports on banks upping their activity
Debate continues to rage about the merits of clearing, with some market observers arguing that the benefits of using central counterparties are outweighed by the precipitous costs involved. But such criticisms fail to take the full burden of over-the-counter...
The aim of this paper is to provide one uniform representation of functional concepts for the whole field of financial infrastructures. This encompasses the part of the infrastructure with inherent systemic risk such as financial market infrastructures...
Last week a student asked me the following question: "How are the two top floors of the warehouse connected?" She had attended a lecture on real-time gross settlement (RTGS) systems settling in central bank money and a lecture on central securities depositories...
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.
Hong Kong, 1st - 31st Dec 2014
UK, 18th Mar 2015
Australia, 12th - 13th Aug 2014
Australia, 14th Aug 2014
USA, 20th - 21st Aug 2014