EFFECTS OFCENTRALIZATIONINTHE POST-TRADINGINFRASTRUCTURE OF OTCDERIVATIVES

Roxana Angela Calistru

Revista Economica, 2012, vol. Supplement, issue 4, 116-124

Abstract: The objective in this paper is to analyze the implications of changing financial architecture by introducing a new entity on OTC derivatives markets-Central Counter party. Area of research focused on OTC derivatives segment, which proved vulnerability during the current financial crisis, but has the potential to improve the future resilience of financial markets by reducing counterparty risk and increase transparency. Inconducting the researchwe used mainly the method of comparative analysis, correlated with asystemic vision on financial markets, a procedure that allowed us to capture both strong aspects of the pleadings procentralization in post-trading stages and issues that are not justified in terms of risk generated in the macroeconomic.

Date: 2012
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