不少研究(Duffie, 2020; Liang and Parkinson, 2020; Hubbard et al, 2021)建议通过在美债现货和repo市场中设立中央对手方(Central Clearing Counterparty, CCP)来增进美债的市场流动性,其理由是,疫情后Basel III中的SLR(Supplementary Leverage Ratio)成为制约一级交易商(PD)的资产负债表扩张和做市能力的重要因素,...
Central counterparty clearing houses (CCPs) perform two main tasks as intermediaries in transactions: clearing and settlement. As counterparties to the buyers and the sellers, CCPs guarantee the terms of a trade—even if one party defaults on the agreement. CCPs bear the lion's share of the buy...
Product Coverage EMIR CCP Monitoring CCP Obligation Transaction Repsitory EU-wide Legislation Process CRD IV Capital Requirements Directive IV (Basel III) Financial Supervision Clearing Contract Central Counterpart (CCP) Clearing Member Service Contract Client (Fourth Party) Client (Third Party) ...
DBS Bank has joined SwapClear, part of LCH, the clearing business for London Stock Exchange Group (LSEG) business. The bank has become the first... SEC proposes new central clearing rules for US Treasury market US market regulator, the Securities and Exchange Commission (SEC) has proposed ...
interoperable CCP (see Commission Delegated Regulation (EU) of 24.6.2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards on clearing access in respect of trading venues and central counterparties, C(2016) 3807 ...
Shanghai Clearing House(hereinafter referred to as SHCH) has integrated the concepts, processes and specific operations associated with the existing central counterparty (CCP) services such as Bonds, Foreign Exchange(FX), Interest Rates derivatives, FX derivatives, Credit derivatives, Commodity derivatives...
As West Africa’s premier Central Counterparty(CCP), NG Clearing plays a key role in the financial ecosystem in the region, upholding stability and safety of the marketplace, through efficient and timely settlement of derivative trades. At NG Clearing, we strengthen Nigeria’s investment environment...
CCP Best Practices Third-Party Risk Management – A CCP12 Position Paper CCP Best Practices – A CCP12 Position Paper Incentives for Central Clearing and the Evolution of OTC Derivatives – A CCP12 Report CCP12 Primer on Initial Margin – A CCP12 White Paper Public Quantitative Disclosures[edit...
Finally, Chapter 8 is based on my forthcoming article on "The Trillion Dollar Question: Can a Central Bank Bail-Out a Central Counterparty (CCP) Clearing House which is 'Too Big To Fail'?";5 it provides an in-depth analysis on whether central banks have the legal authority to bail-out ...
/Leaders in collateral management solutions for CCPs, Central Banks and Financial Institutions. /Digital solution expertise which compliments core legacy CCPs infrastructure. /Clearing members benefit from a scalable product to expediate onboarding of clients and products. ...