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OTC Derivatives: Bilateral Trading and Central Clearing - An Introduction to Regulatory Policy, Market Impact and Systemic Risk (Hardcover)
Loot Price: R3,442
Discovery Miles 34 420
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OTC Derivatives: Bilateral Trading and Central Clearing - An Introduction to Regulatory Policy, Market Impact and Systemic Risk (Hardcover)
Series: Global Financial Markets
Expected to ship within 10 - 15 working days
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The OTC derivatives market has been hit by a massive wave of
regulatory change. Capital and margin requirements have increased,
trade reporting has been mandated, and execution mechanisms are
evolving. Most of all, central clearing is being imposed for many
transactions.
"OTC Derivatives: Bilateral Trading and Central Clearing" explains
the new rules and the new models. It discusses the traditional
bilateral market, then sets out how this will change due to
mandatory central clearing and the new ways in which OTC
derivatives will have to be traded, reported, and processed. The
risks of OTC derivatives clearing houses are discussed in detail,
as are the protections that CCPs have against these risks. The book
also looks at alternatives to some of the policy decisions that
have been made, showing the balance between costs and benefits of
various different approaches to derivatives market stability. The
book is both a detailed primer on OTC derivatives clearing and a
powerful insight into post-crisis financial regulation.
Key features of the book include:
- A discussion of the capital rules for OTC derivatives
counterparty credit risk in Basel III;
- An account of OTC derivatives trade processing in both bilateral
and cleared markets;
- A detailed account of the risk profile of OTC derivatives
CCPs;
- An explanation of the risks run in various collateral segregation
models; and
- A comparison of various macro-prudential tools for enhancing the
financial stability of OTC derivatives markets.
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