Central clearing of OTC Derivatives in Australia
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چکیده
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 default management.
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