Collateral: look, but don’t touch

Collateral: look, but don’t touch


The global push by regulators to require a vast swath of the over-the counter derivatives market to be cleared has central counterparties (CCPs) rubbing their hands in anticipation. Not only will CCPs benefit from an enormous increase in revenue generated from clearing fees, but certain clearing houses will also look to generate additional revenue from the torrent of initial margin about to flow their way – estimated by Manmohan Singh, senior economist at the International Monetary Fund, to be

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