Regulators to scrutinise CCP default auctions

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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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