The invisible incentives of clearing

Leverage ratio is making life difficult for clearing's gatekeepers


As 2014 drew to a close, 22 regulators from 13 bodies ran the rule over new margining and capital regimes to see if they had delivered on a key pledge – to create incentives for the use of clearing houses. Their findings were relayed by the Financial Stability Board (FSB) to politicians in the Group of 20 nations, boiling the 22-page report down into two paragraphs.

In turn, I'll boil those two paragraphs down into two words: job done.

The way the FSB tells it, the Derivatives Assessment Team

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here