. Since the Great Financial Crisis, increases in central clearing rates have helped shape growth in amounts outstanding …. Derivatives subject to regulatory clearing mandates were approaching full clearing, while clearing rates were low for certain …

looking at counterparty relations within both direct (house) clearing and client clearing. Since the majority of the gross … notional is transferred within central counterparties and their clearing members, client clearing is often neglected in the … literature, despite its significance in terms of net exposures. We find that the client clearing structure is very strongly …

of financial market participants. The central clearing sector is no exception to this. Moreover, with its crucial … position as bulwark against systemic instability, the central clearing sector sits at the heart of modern financial markets and …

We study the impact of central clearing of over-the-counter (OTC) transactions on counterparty exposures in a market … clearing is efficient only if one has an unrealistically high number of participants, the opposite conclusion is reached if … plausible specifications of model parameters lead to the conclusion that central clearing does reduce interdealer exposures: the …

looking at counterparty relations within both direct (house) clearing and client clearing. Since the majority of the gross … notional is transferred within central counterparties and their clearing members, client clearing is often neglected in the … literature, despite its significance in terms of net exposures. We find that the client clearing structure is very strongly …

-the-counter derivative regulation. Many of the Dodd-Frank statutes and proposed rules go well beyond the relatively modest objectives agreed … the isolation of U.S. OTC derivative markets. Isolation results from participants simply abandoning U.S. markets because …