OTC derivative contracts in Europe. Central clearing acts as insurance against counterparty credit risk related to … maturity of the contract and international frictions affect voluntary clearing of different types of derivative contracts in …Central clearing is a major part of the policy response to the financial crisis of 2008, aiming to reign in …

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 …

interconnected clearing members are associated with higher margin holdings. While margin requirements increased significantly around …

appropriate incentives for different types of market participants to centrally clear Over-The-Counter (OTC) derivative contracts … of the reference entity; 2) the credit risk of the counterparty; 3) the clearing member's portfolio net exposure with the … Central Counterparty Clearing House (CCP) and 4) post trade transparency. We use confidential European trade repository data …