Zhu, Siyi - de Nederlandsche Bank - 2011
The European trade and post-trade industries have seen increased competition in the past few years. As a result of the … practices of the three CCPs in European equity market-LCH.Clearnet SA, EMCF and EuroCCP. It concludes that, 1) competition in … competition among CCPs has led to a deterioration in the robustness of CCPs' risk management. …