Central Counterparties

Ulrich Bindseil and George Pantelopoulos
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Ulrich Bindseil: European Central Bank
George Pantelopoulos: University of Newcastle

Chapter 6 in Introduction to Payments and Financial Market Infrastructures, 2023, pp 83-95 from Springer

Abstract: Abstract This chapter provides a schematic of central counterparties (CCPs). The key activities of CCPs are outlined, and the significance of the novation of contracts – a key aspect of CCPs – is explained. The chapter then describes the risk management practices of CCPs. Finally, the clearing of domestic derivative contracts is shown through a system of financial accounts, in addition to assessing the performance of CCPs during times of market stress.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-031-39520-8_6

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DOI: 10.1007/978-3-031-39520-8_6

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