Nearly half of the over-the-counter derivatives participants in Asia-Pacific expect to clear through local clearing houses, according to a new survey from Celent – creating the prospect of liquidity fragmentation, the splitting of netting sets and higher costs.
Forty-six per cent of respondents to the survey said they would likely clear through local central counterparties (CCPs), compared with 38% who said they expect to use global clearing houses. Only 8% said they would use both. The Celent s
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