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Mastering Derivatives Markets, 4th Edition by Francesca Taylor

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12

Central Clearing and the OTC Market

Bill Hodgson, Founder and CEO, The OTC Space Ltd

‘In Washington and Brussels a cure for the financial crisis is being planned – central clearing is the chosen panacea, or is it?’

The basics

Trade execution

Risks and mitigation

Getting trades into clearing

The business case and benefits

Predictions for market development

Terminology

US and European politicians believe that central clearing will save us from a future meltdown of the capital markets – unfortunately few others agree. This chapter attempts to define central clearing, how it works, and what it does and does not offer the world.

THE BASICS

How many of us would allow a complete stranger to owe us hundreds of thousands or millions of pounds ...

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