CCPs should be more transparent with margin models, say dealers

nuts and bolts

Clearing houses should be more transparent and give full access to the models they use for calculating margin, dealers complain.

While central counterparties (CCPs) active in the over-the-counter derivatives market already outline how their models work – for instance, providing details on the confidence level, look-back period and close-out period used by their value-at-risk models – dealers say they need much more detail to replicate and stress margin requirements, both for their own risk manag

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