Post-Trade Processing of OTC Derivatives

IT Solutions under a New Regulatory Paradigm

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• Publisher: ibidem
• Year: 2020
• eBook ISBN: 9783838274447
• Edition: 0

The financial crisis of 2007-2009 exposed the weaknesses of the global over-the-counter (OTC) derivatives market such as limited transparency regarding risk exposures, poor counterparty risk management practices, and the risk of contagion arising from interconnectedness in this market. In the aftermath of the financial crisis, regulators introduced worldwide legislative and regulatory changes aimed at increasing the transparency and stability of the financial markets. In this book, Dr. Olga Lewandowska explores those novel regulatory solutions and their impact. The main focus is on central counterparty (CCP) clearing that became mandatory for OTC derivatives under the new regulatory paradigm. In four research papers, she analyzes CCP from different risk perspectives and based on four diverse research methods. Her book offers a comprehensive assessment of the risk-reduction potential of the CCPs, their implications for the financial markets, and the practical challenges in the implementation of the recent financial market reforms.

Table of contents

• Table of Contents
• Introductory Paper
• 1. INTRODUCTION
• 2 RESEARCH CONTEXT
• 3 RESEARCH METHODOLOGIES
• 4 MAIN RESULTS
• 5 CONTRIBUTION TO THEORY AND PRAXIS
• 6 LIMITATIONS, OUTLOOK AND FUTURE RESEARCH
• Adoption of a Centralized Post-Trade Processing Market Infrastructure after the Credit Crisis
• 1 INTRODUCTION
• 2 THEORY AND MODEL DEVELOPMENT
• 3 RESEARCH METHOD
• 4 DISCUSSION OF RESEARCH FINDINGS AND IMPLICATIONS
• OTC Clearing Arrangements for Bank Systemic Risk Regulation: A Simulation Approach
• 1 INTRODUCTION
• 2 REVIEW OF THE RELEVANT ACADEMIC CONTRIBUTIONS
• 3 SIMULATION MODEL
• 4 SIMULATION RESULTS
• 5 CONCLUSION AND OUTLOOK
• Is a Full Scale Straight Through Processing of OTC
• 1 INTRODUCTION
• 2 STRAIGHT THROUGH PROCESSING DEFINITION AND LITERATURE OVERVIEW
• 3 RESEARCH METHOD AND DATA COLLECTION
• 4 CASE STUDY DESCRIPTION
• 5 RESEARCH CONTRIBUTION AND LIMITATIONS
• The Recent Crises and CCP Risk Practices in the Light of Procyclicality: Empirical Evidence
• 1 INTRODUCTION
• 2 RELATED LITERATURE
• 3 RISK MANAGEMENT BY CENTRAL COUNTERPARTIES
• 4 RESEARCH DESIGN
• 5 CONCLUSION, RESEARCH LIMITATIONS AND OUTLOOK
• Deutsche Zusammenfassung
• 1 EINLEITUNG
• 2 FORSCHUNGSGEGENSTAND
• 3 FORSCHUNGSMETHODEN
• 4 ERGEBNISSE
• 5 BEITRAG ZUR FORSCHUNG UND PRAXIS
• 6 LIMITATIONEN UND WEITERE FORSCHUNG