More talk than action

The world’s main clearing houses say they want a global central counterparty (CCP). They launched an association, called CCP 12, last year to push for it. But just how much progress has there been?

The CCP 12 association, established last August by a group of the world’s principal clearing houses to improve global clearing, netting and central counterparty (CCP) services, has made few waves so far. Indeed, the association has even shut one of the committees created at its founding.

CCP 12 was founded following a conference held in early 2001 at Chelsea Harbour, London, to identify and address a broad range of issues relating to CCP services, according to Patrice Renault, chairman of

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