CFTC official: CCPs should war-game default auctions
Risk appetite should be a factor in selecting auction participants – Wasserman
Clearing houses must think carefully about whom they invite to participate in default auctions, a senior official at the US Commodity Futures Trading Commission has said, in one of the first public comments from a national supervisor on auction practices at central counterparties (CCPs) in the wake of the recent Nasdaq Clearing episode.
Bob Wasserman, chief counsel in the CFTC’s clearing and risk
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