Repo markets offering central counterparty (CCP) clearing and anonymized trading were remarkably resilient during the …

empirically shows that the central counterparty (CCP)-based euro interbank repo market features this stability. Using a unique and … different repo markets shows that anonymous CCP-based trading, safe collateral, and the absence of an unwind mechanism are the …

risk, my results indicate that CDS spreads widen with the initiation of central clearing. I document that even though … dealer risk is priced in CDS spreads and an increase in dealer risk narrows spreads, the initiation of central clearing does … provide evidence that CDS volatility and central clearing widen CDS spreads jointly. Because the margin requirements of CCPs …

The G20's push towards central clearing changed the shape of the world's financial system: all standardized derivative … contracts must now be cleared through central counterparties (CCPs). Despite considerable debate, the impact of central clearing … nonetheless remains ambiguous and hard to measure as clearing regulations have been implemented alongside many other changes. In …

Following the 2008 financial crisis, regulation mandates the clearing of the CDS market through Central Clearing …-but-plausible failure threatens global financial market stability. This work examines CCP resilience following a large dealer member …'s default and the ensuing default contagion. In unwinding the defaulter's positions, the CCP faces the price impact of …

Recent regulation mandating the clearing of credit default swaps (CDS) by a Central Clearing Counterparties (CCP), has …. This work investigates the potential failure of a CCP initiated by the default of a large dealer bank and the unwinding of … assets to varying degrees, based on their relative distance to defaulted assets. Key results show that liquidation lowers CCP …

participants of the financial system. -- Financial Institutions ; Financial markets ; Payment ; clearing; and settlement systems …