Banks raise concerns over Macquarie concentration risk at ASX
Exit of Bell Potter exacerbates shortage of clearing capacity in Australia’s energy market
Banks are warning of rising concentration risks at the central counterparty (CCP) of the Australian Securities Exchange (ASX), as the domestic market becomes increasingly reliant on local bank Macquarie for energy clearing.
“You basically take credit risk on Macquarie [by being part of the default fund],” says an executive at one European clearing bank, echoing similar sentiments from two other
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