OTC Derivatives: Bilateral Trading and Central Clearing: An Introduction to Regulatory Policy, Market Impact and Systemic Risk David Murphy

ISBN:

Published: August 7th 2013

Kindle Edition

300 pages


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OTC Derivatives: Bilateral Trading and Central Clearing: An Introduction to Regulatory Policy, Market Impact and Systemic Risk  by  David Murphy

OTC Derivatives: Bilateral Trading and Central Clearing: An Introduction to Regulatory Policy, Market Impact and Systemic Risk by David Murphy
August 7th 2013 | Kindle Edition | PDF, EPUB, FB2, DjVu, AUDIO, mp3, RTF | 300 pages | ISBN: | 8.57 Mb

The OTC derivatives market has been hit by a massive wave of regulatory change. Capital and margin requirements have increased, trade reporting has been mandated, and execution mechanisms are evolving. Most of all, central clearing is being imposedMoreThe OTC derivatives market has been hit by a massive wave of regulatory change. Capital and margin requirements have increased, trade reporting has been mandated, and execution mechanisms are evolving. Most of all, central clearing is being imposed for many transactions.OTC Derivatives: Bilateral Trading and Central Clearing explains the new rules and the new models.

It discusses the traditional bilateral market, then sets out how this will change due to mandatory central clearing and the new ways in which OTC derivatives will have to be traded, reported, and processed. The risks of OTC derivatives clearing houses are discussed in detail, as are the protections that CCPs have against these risks.

The book also looks at alternatives to some of the policy decisions that have been made, showing the balance between costs and benefits of various different approaches to derivatives market stability. The book is both a detailed primer on OTC derivatives clearing and a powerful insight into post-crisis financial regulation.Key features of the book include:• A discussion of the capital rules for OTC derivatives counterparty credit risk in Basel III-• An account of OTC derivatives trade processing in both bilateral and cleared markets-• A detailed account of the risk profile of OTC derivatives CCPs-• An explanation of the risks run in various collateral segregation models- and• A comparison of various macro-prudential tools for enhancing the financial stability of OTC derivatives markets.



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