
Regulators to scrutinise CCP default auctions
CPMI-Iosco preps discussion paper as banks warn further guidance needed after Nasdaq default

Global regulators are debating options to improve the design of clearing house default auctions, amid calls from banks and other market participants for a tightening of default management procedures at central counterparties (CCPs) in the wake of the €107 million loss suffered by members of Nasdaq Clearing.
Two supranational bodies – the International Organization of Securities Commissions and the Committee on Payments and Market Infrastructures – are working on a joint discussion paper on the
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