Central clearing and collateral demand

Clearing , transparency , and collateral ∗

In an environment of Over-The-Counter trading with asymmetric information about the quality of the counterparty, we study traders’ incentives to screen their counterparties under different clearing arrangements. When traders can choose the clearing arrangement, they decide which types of transactions to clear under each arrangement, with significant consequences for transparency and collateral ...

supply and demand security of energy in central asia and the caucasus

امنیت انرژی به معنی عرضه مداوم و پایدار همراه با قیمت های معقول در حامل های انرژی، که تهدیدات امنیتی، سیاسی، اقتصادی، محیط زیستی و روانی را کاهش دهد. امروزه نفت و گاز تنها، کالای تجاری نیست بلکه بعنوان ابزار سیاسی مورد استفاده قرار می گیرد.اختلاف میان روسیه و اکراین بر سر انرژی در ژانویه 2006، تهدیدی برای امنیت انرژی اروپا ایجاد کرد. در این تحقیق ما تلاش کردیم که نقش انرژی آسیای میانه و قفقاز ر...

Optimal Clearing of Supply/Demand Curves

Markets are important coordination mechanisms for multiagent systems, and market clearing has become a key application area of AI algorithms. We study optimal clearing in the ubiquitous setting where there are multiple indistinguishable units for sale. The sellers and buyers express their bids via supply/demand curves. Discriminatory pricing leads to greater profit for the party who runs the ma...

Single and Multisettlement Approaches to Market Clearing Under Demand Uncertainty

Central clearing of OTC Derivatives in Australia

In order to clear a new product or market, the key factor a CCP must consider is its ability to manage the risks the product or market presents including the risk of default. This would normally require: the CCP has access to accurate pricing and valuation data; a degree of contract standardisation; and sufficiently deep liquidity in the market (or in sufficiently close hedges) to facilitate de...