Clear and Present Danger: Centrally Cleared Derivatives  

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[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8779 (Apr. 2012), page 69-70.
Topik: Stock Exchanges; Clearinghouses; Exchange Traded Funds; Derivatives; Over the Counter Stock; Regulation of Financial Institutions

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.71 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Deutsche Borse's proposed merger with NYSE Euronext was blocked by regulators in February. Romances between the exchanges of Singapore and Australia, and between the Toronto bourse and the London Stock Exchange (LSE), have also fizzled. Tired of such dalliances, the LSE has taken up with the plumber. On April 3rd its shareholders backed its plan to take control of LCH.Clearnet, a big clearing-house. Clearing-houses are the back-room wizards of the exchange-traded securities and derivatives markets. They ensure that once a deal has been agreed upon it will be honored, even if one of the parties goes bust. The 2008 financial crisis proved their worth. Regulators now want clearing-houses to act as central counter-parties (CCPs) for as many derivatives transactions as possible. Their biggest target is the mountain of over-the-counter (OTC) derivatives products. The volume of business flowing to clearing-houses, and the fees they can charge, will rise. Clearers swear blind that they would never relax their standards.

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