Energy clearing in Catch 22 situation, says Fitch

- Paul Lyon
- 18 May 2004

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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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