The last word: Collateral and CCPs

What are the implications of the potential $2 trillion collateral lockdown from moving the majority of OTC derivatives onto central counterparties (CCPs)?


Robert Almanas, member of the executive committee, SIX Securities Services
With upcoming regulation such as the Dodd-Frank Act and the European Market Infrastructure Regulation forcing financial institutions to lock down much more collateral – probably to the tune of trillions of dollars – collateral optimisation will become increasingly important for both the buy and sell sides, so that they can maintain, or even increase business levels.

High-quality collateral is already becoming scarce. We

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