relatively large number of asset classes, central clearing increases the mean and variance of net exposures, which may lead to …

relatively large number of asset classes, central clearing increases the mean and variance of net exposures, which may lead to …

clearing mechanism introduced in the seminal contribution of Eisenberg and Noe (2001). We first show the existence of a Nash …

clearing mechanism introduced in the seminal contribution of Eisenberg and Noe (2001). We first show the existence of a Nash …

default impacts the incentives of other agents to escape default. Agents' payoffs are determined by the clearing mechanism …, we show that introducing a central clearing counterparty achieves the efficient equilibrium at no additional cost. …

We propose a novel central clearing counterparty (CCP) design for a financial network with multilateral clearing, where …

relatively large number of asset classes, central clearing increases the mean and variance of net exposures, which may lead to …

lattice structure, leading to the existence of a least and a greatest clearing payment matrix. Previous research has shown how … decentralized clearing selects the least clearing payment matrix. We present a centralized approach towards clearing in order to … select the greatest clearing payment matrix. To do so, we formulate the determination of the greatest clearing payment matrix …