Nahiomy Alvarez is a senior markets analyst at the Federal Reserve Bank of Chicago’s Financial Markets Group (FMG). In this role, she contributes to various research workstreams on key regulatory and policy issues impacting financial market infrastructures, counterparty risk management, payment systems, emerging technologies, and systemic risk. Prior to joining the Bank, Ms. Alvarez was a consultant in Washington, DC, where she advised Fortune 500 companies, trade associations, financial services institutions, and other private sector clients on a wide range of policy issues. Ms. Alvarez is currently pursuing an MBA at the University of Chicago Booth School of Business. She holds a B.A. degree in Political Economy from Williams College.
Concentration in cleared derivatives: the case for broadening access to direct central counterparty clearing
In this paper, the authors explore the benefits and challenges of encouraging major end-users of derivatives to become direct clearing members of central counterparties (CCPs).