Goethe University Frankfurt
Olga Lewandowska is an independent senior consultant in the field of post-trade processing of derivatives and financial market regulation. During ten years in financial markets, she has advised both banks and clearing houses. She is finishing her PhD at the Goethe University in Frankfurt. Her main research interests include clearing of listed and OTC derivatives, financial market structure and regulation. She holds a master’s degree from the Warsaw School of Economics with a major in Investment Banking.
In this paper, the authors compare the data from three major clearing houses concerning tail losses and member concentration.
The recent crises and central counterparty risk practices in the light of procyclicality: empirical evidence
This paper focuses on the risk practices of Central Counterparties in the light of their potentially procyclical features.