Central Counterparties for Over-the-Counter Derivatives

14 Pages Posted: 2 Aug 2012

See all articles by Stephen G. Cecchetti

Stephen G. Cecchetti

Brandeis International Business School; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Jacob Gyntelberg

Nordea Group; University of Copenhagen - Department of Economics

Marc Hollanders

Bank for International Settlements (BIS)

Date Written: September 2009

Abstract

Wider use of central counterparties (CCPs) for over-the-counter derivatives has the potential to improve market resilience by lowering counterparty risk and increasing transparency. However, CCPs alone are not sufficient to ensure the resilience and efficiency of derivatives markets.

JEL Classification: G01, G15, G18

Suggested Citation

Cecchetti, Stephen G. and Gyntelberg, Jacob and Hollanders, Marc, Central Counterparties for Over-the-Counter Derivatives (September 2009). BIS Quarterly Review, September 2009. Available at SSRN: https://ssrn.com/abstract=1472960

Stephen G. Cecchetti (Contact Author)

Brandeis International Business School ( email )

415 South Street
Waltham, MA 02453
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States
212-720-8629 (Phone)
212-720-2630 (Fax)

Centre for Economic Policy Research (CEPR) ( email )

London
United Kingdom

Jacob Gyntelberg

Nordea Group ( email )

Grønjordsvej 10
Copenhagen, DK - 2300
Denmark

University of Copenhagen - Department of Economics ( email )

Øster Farimagsgade 5, Bygn 26
Copenhagen, 1353
Denmark

Marc Hollanders

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

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