New Developments In Clearing And Settlement Arrangements For Otc Derivatives PDF Download
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Author | : |
Publisher | : |
Total Pages | : 76 |
Release | : 2007 |
Genre | : Derivative securities |
ISBN | : |
Download New Developments in Clearing and Settlement Arrangements for OTC Derivatives Book in PDF, ePub and Kindle
Author | : Olga Lewandowska |
Publisher | : BoD – Books on Demand |
Total Pages | : 222 |
Release | : 2020-04-30 |
Genre | : Business & Economics |
ISBN | : 3838214447 |
Download Post-Trade Processing of OTC Derivatives Book in PDF, ePub and Kindle
The financial crisis of 2007–2009 exposed the weaknesses of the global over-the-counter (OTC) derivatives market such as limited transparency regarding risk exposures, poor counterparty risk management practices, and the risk of contagion arising from interconnectedness in this market. In the aftermath of the financial crisis, regulators introduced worldwide legislative and regulatory changes aimed at increasing the transparency and stability of the financial markets. In this book, Dr. Olga Lewandowska explores those novel regulatory solutions and their impact. The main focus is on central counterparty (CCP) clearing that became mandatory for OTC derivatives under the new regulatory paradigm. In four research papers, she analyzes CCP from different risk perspectives and based on four diverse research methods. Her book offers a comprehensive assessment of the risk-reduction potential of the CCPs, their implications for the financial markets, and the practical challenges in the implementation of the recent financial market reforms.
Author | : Group of Ten. Committee on Payment and Settlement Systems |
Publisher | : |
Total Pages | : 80 |
Release | : 2004 |
Genre | : Clearing of securities |
ISBN | : |
Download Recommendations for Central Counterparties Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 96 |
Release | : 2008 |
Genre | : Banks and banking, Central |
ISBN | : |
Download Progress in Reducing Foreign Exchange Settlement Risk Book in PDF, ePub and Kindle
Author | : David Loader |
Publisher | : Elsevier |
Total Pages | : 249 |
Release | : 2002-09-05 |
Genre | : Business & Economics |
ISBN | : 0080490654 |
Download Clearing, Settlement and Custody Book in PDF, ePub and Kindle
'Clearing, Settlement and Custody' focuses on the clearing, settlement and custody functions by analyzing how they work and the interaction between the organizations involved. The author examines the roles of clearing houses, central counterparties, central securities depositories and the custodians, as well as, assessing the impact on the workflow and procedures in the operations function at banks, brokers and institutions. The changes that are taking place in the industry are explored and the impact for operations managers and supervisors assessed.Clearing, settlement and custody is at the heart of everything that happens in the financial markets. The evolution of clearing and settlement is one that is still happening and as such, it is impacting on the operations function through both new practices but also, increasingly, in terms of regulation, risk and reputation.In essence the efficient clearing and settlement operation is managing risk, not because it is a direct part of the process but more because it is a bi-product. The routine procedures relate to reconciliation and record keeping. If these are performed efficiently and accurately it will result in accurate records of activity and profit and loss.The settlement process is a key element in identifying and correcting errors made by dealers and traders. Failure to identify the error or act promptly will result in potentially serious financial loss, as well as worrying audit and the regulators.In addition to these concerns the financial service sector is also undergoing a massive rationalization of the structure of clearing and settlement and seeking the twin goals of automation and shortening settlement cycles. The challenge for operations managers is considerable: manage costs, eradicate inefficiencies, create an environment to be competitive, and implement the procedures to meet future changes that will occur. In this book the author looks at some of the different roles, the processes and procedures, and the key issues, in order to help those in operations meet the challenge. The definitive series of professional references for those finance professionals concerned with "Back office" or operations management unique to this industry.Presents concise references on the essential management functions such as technology, client services, and risk management for financial operations management professionals.A comprehensive resource from a leading financial management consultant for global banks and institutions.
Author | : Mr.Manmohan Singh |
Publisher | : International Monetary Fund |
Total Pages | : 17 |
Release | : 2010-04-01 |
Genre | : Business & Economics |
ISBN | : 1451982763 |
Download Collateral, Netting and Systemic Risk in the OTC Derivatives Market Book in PDF, ePub and Kindle
To mitigate systemic risk, some regulators have advocated the greater use of centralized counterparties (CCPs) to clear Over-The-Counter (OTC) derivatives trades. Regulators should be cognizant that large banks active in the OTC derivatives market do not hold collateral against all the positions in their trading book and the paper proves an estimate of this under-collateralization. Whatever collateral is held by banks is allowed to be rehypothecated (or re-used) to others. Since CCPs would require all positions to have collateral against them, off-loading a significant portion of OTC derivatives transactions to central counterparties (CCPs) would require large increases in posted collateral, possibly requiring large banks to raise more capital. These costs suggest that most large banks will be reluctant to offload their positions to CCPs, and the paper proposes an appropriate capital levy on remaining positions to encourage the transition.
Author | : Patrick Boyle |
Publisher | : Walter de Gruyter GmbH & Co KG |
Total Pages | : 298 |
Release | : 2018-12-17 |
Genre | : Business & Economics |
ISBN | : 1547401214 |
Download Trading and Pricing Financial Derivatives Book in PDF, ePub and Kindle
Trading and Pricing Financial Derivatives is an introduction to the world of futures, options, and swaps. Investors who are interested in deepening their knowledge of derivatives of all kinds will find this book to be an invaluable resource. The book is also useful in a very applied course on derivative trading. The authors delve into the history of options pricing; simple strategies of options trading; binomial tree valuation; Black-Scholes option valuation; option sensitivities; risk management and interest rate swaps in this immensely informative yet easy to comprehend work. Using their vast working experience in the financial markets at international investment banks and hedge funds since the late 1990s and teaching derivatives and investment courses at the Master's level, Patrick Boyle and Jesse McDougall put forth their knowledge and expertise in clearly explained concepts. This book does not presuppose advanced mathematical knowledge, though it is presented for completeness for those that may benefit from it, and is designed for a general audience, suitable for beginners through to those with intermediate knowledge of the subject.
Author | : Tom Kokkola |
Publisher | : |
Total Pages | : 369 |
Release | : 2010 |
Genre | : Banks and banking, Central |
ISBN | : 9789289906333 |
Download The Payment System Book in PDF, ePub and Kindle
"This book is designed to provide the reader with an insight into the main concepts involved in the handling of payments, securities and derivatives and the organisation and functioning of the market infrastructure concerned. Emphasis is placed on the general principles governing the functioning of the relevant systems and processes and the presentation of the underlying economic, business, legal, institutional, organisational and policy issues. The book is aimed at decision-makers, practitioners, lawyers and academics wishing to acquire a deeper understanding of market infrastructure issues. It should also prove useful for students with an interest in monetary and financial issues."--Introduction (Pg. 20, para 8).
Author | : International Monetary Fund. Monetary and Capital Markets Department |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 0 |
Release | : 2010-05-20 |
Genre | : Business & Economics |
ISBN | : 9781589069169 |
Download Global Financial Stability Report, April 2010 Book in PDF, ePub and Kindle
Risks to global financial stability have eased as the economic recovery has gained steam. But policies are needed to reduce sovereign vulnerabilities, ensure a smooth deleveraging process, and complete the regulatory agenda. The April 2010 Global Financial Stability Report examines systemic risk and the redesign of financial regulation; the role of central counterparties in making over-the-counter derivatives safer; and the effects of the expansion of global liquidity on receiving economies.
Author | : Hau Harald |
Publisher | : International Monetary Fund |
Total Pages | : 45 |
Release | : 2019-05-07 |
Genre | : Business & Economics |
ISBN | : 1498303773 |
Download Discriminatory Pricing of Over-the-Counter Derivatives Book in PDF, ePub and Kindle
New regulatory data reveal extensive price discrimination against non-financial clients in the FX derivatives market. The client at the 90th percentile pays an effective spread of 0.5%, while the bottom quarter incur transaction costs of less than 0.02%. Consistent with models of search frictions in over-the-counter markets, dealers charge higher spreads to less sophisticated clients. However, price discrimination is eliminated when clients trade through multi-dealer request-for-quote platforms. We also document that dealers extract rents from captive clients and market opacity, but only for contracts negotiated bilaterally with unsophisticated clients.