 Zarzadzanie ryzykiem w izbie rozliczeniowej KDPW_CCP. (Risk management in KDPW_CCP clearing house.)Iwona Sroka ()
Problemy Zarzadzania, 2013, vol. 11, issue 42, 124 - 139 Abstract: The article “Risk Management in the Clearing House KDPW_CCP” discusses the operation of a transaction guarantee and clearing system by the company KDPW_CCP S.A. On the Polish market, KDPW_CCP performs the functions of a clearing house and a central counterparty for transactions made in organized trading and on OTC markets. As part of the services offered by the clearing house to the financial market, an adequate risk management model plays an important role and guarantees the clearing of transactions sent to the clearing house. The paper describes the functions performed by the clearing house on the financial market and the mechanisms it uses to operate the risk management system. The model adopted by KDPW_CCP is based on a multi-tier system of clearing guarantees including formal legal requirements for participants of the clearing house as well as a system of margins and contributions to a default fund. An important element of the system is the own capital of the clearing house KDPW_CCP which can be used in case of default of a participant of the clearing house. Keywords: capital market; financial market; risk management; clearing house; CCP (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sgm:pzwzuw:v:11:i:42:y:2013:p:124-139 Access Statistics for this article More articles in Problemy Zarzadzania from University of Warsaw, Faculty of Management Contact information at EDIRC. |
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