11. Centralized Clearing for Credit Derivatives

  1. Viral V. Acharya and
  2. Matthew Richardson
  1. Viral V. Acharya,
  2. Robert F. Engle,
  3. Stephen Figlewski,
  4. Anthony W. Lynch and
  5. Marti G. Subrahmanyam

Published Online: 9 JAN 2012

DOI: 10.1002/9781118258163.ch11

Restoring Financial Stability: How to Repair a Failed System

Restoring Financial Stability: How to Repair a Failed System

How to Cite

Acharya, V. V. and Richardson, M. (2009) Centralized Clearing for Credit Derivatives, in Restoring Financial Stability: How to Repair a Failed System, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118258163.ch11

Publication History

  1. Published Online: 9 JAN 2012
  2. Published Print: 9 MAR 2009

ISBN Information

Print ISBN: 9780470499344

Online ISBN: 9781118258163

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Keywords:

  • credit derivatives;
  • over-the-counter trading;
  • transparency;
  • credit default swap;
  • exchange-based trading

Summary

This chapter contains sections titled:

  • OTC Credit Derivatives-A Snapshot

  • Weaknesses in the CDS Trading Infrastructure: Some Examples

  • The Benefits of Centralized Clearing

  • Possible Solutions and Their Relative Merits

  • Desirable Levels of Transparency

  • Recent Proposals and will They Succeed?

  • Implications for Other Markets

  • Notes

  • References