In the Canadian large value payment system an important goal is to understand how liquidity is transferred through the … relationships between participants in the payment system is a crucial step in achieving the goal. The set of nodes in any given …

Clearing, Eurex Clearing and LCH.Clearnet - are considered in terms of risk management, CCP links, governance and operational …

complex relationships and interdependencies that exist in a payment, clearing, and settlement system (PCSS), and allow an … remained stable from 2004 to 2008, even through the credit crisis. -- Payment, clearing, and settlement systems ; Financial … PCSS network and describe the daily and intraday network structure of payment activity in the Large Value Transfer System …

participants while avoiding the creation of inter-CCP exposures via links. However, global clearing may not be appropriate for all … markets. Using a two country model, with a global CCP serving both markets and a local CCP clearing only domestic country …

welfare consequences of clearing agent failure. The equilibrium degree of tiering is endogenously determined by the cost …-tier network and the availability of public credit history. Furthermore, the welfare effects of clearing agent failure can be …

established. For example, the effect of a partial outage at a big six bank that has a net payment balance of $1 billion is …