| Abstrakt: |
The article discusses the book "Clearing OTC Derivatives in Europe" by Bas Zebregs, Victor de Seriere, Rezah Stegeman, and Patrick Pearson. The book provides valuable insights into the history and current regulatory regime of clearing over-the-counter derivatives (OTC) in Europe. It covers topics such as the legal relationships between CCPs, clearing members, and clearing clients, the economic function of a CCP, the fragmentation of clearing, and the optimal structure of CCPs. The book also addresses issues related to default management, the resolution regime for CCPs, and the future of derivatives clearing, including the use of distributed ledger technology. Overall, the book offers a comprehensive analysis of the past, present, and future of derivatives clearing in a thorough and understandable manner. [Extracted from the article] |
