of losses and the question of whether and how to provide for continuity of clearing services. I discuss how one might …

of scale. From a European perspective, it should be noted that the clearing of euro-denominated OTC derivatives mainly …

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 …

) derivatives. The central clearing of standardised OTC derivatives is a pillar of the G20 Leaders' commitments to reform OTC … concludes that the reforms - particularly capital requirements, clearing mandates and margin requirements for non …-centrally cleared derivatives - are achieving their goals of promoting central clearing, especially for the most systemic market …

My interest in this research topic was inspired by the apparently global consensus on the mandate for central clearing … in the credit default swaps market. At the first glance, the central clearing mechanism with its central counterparties … participants. Therefore, it is highly questionable whether central clearing can ultimately maintain and protect the market …