Energy clearing in Catch 22 situation, says Fitch

Furey said that this situation poses an obstacle for the development of clearing within the industry, arguing that while clearing may be beneficial for the market as a whole, it may take some time before traders are able to clear their contracts on a regular basis.

Clearing houses protect against counterparty default and reduce the amount of collateral a company must post to back its OTC natural gas and power trades.

Robert Stibolt, senior vice president of strategy, portfolio & risk

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