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The risk controllers : central counterparty clearing in globalised financial markets.
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ISBN: 9780470686324 0470686324 9781119976554 9781119977940 9781119977957 1119977940 1119205913 9786613204523 1283204525 1119976553 Year: 2011 Publisher: Chichester Wiley

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Abstract

Clearing houses, or CCPs, were among the very few organisations to emerge from the global financial crisis with their standing enhanced. In the chaotic aftermath of the bankruptcy of Lehman Brothers, they successfully completed trades worth trillions of dollars in a multitude of financial instruments across listed and over-the-counter markets, and so helped avert financial Armageddon. That success transformed the business of clearing. Governments and regulators around the world gave CCPs and the clearing services they provide a front-line role in protecting the global economy from future exc

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