The Clearing House Association Dec. 18 released a paper with nine new recommendations on an emerging plan for central clearing of derivatives, warning that ill-defined and unrealistic expectations for clearing member firms could backfire and create new problems.
At issue are new signs of friction among international regulators, experts, and standard-setters on how to use central counterparties (CCPs) to smooth the traffic of financial contracts across global markets.
In April, the Bank for International Settlements’ Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) released final standards aimed at making payment, clearing, and settlement ...
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