Isda AGM: dealers, CCPs debate risks of lowering bar to entry

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Allowing smaller firms to become clearing members of multiple central counterparties (CCPs) could create a hidden vulnerability in the system, a trio of senior clearing figures from big banks warned during the International Swaps and Derivatives Association's annual meeting in Prague yesterday. Regulators are pushing for CCPs to lower their barriers to entry, letting weaker firms into clearing's inner circle – but these firms could be overwhelmed in a crisis, the larger banks argued.

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