Disentangling derivatives: international policy reforms concerning central counterparties

Lucia Quaglia and Aneta Spendzharova

Journal of Economic Policy Reform, 2022, vol. 25, issue 3, 305-321

Abstract: After the 2008 financial crisis, international policy reforms were adopted on various aspects of derivatives markets, highlighting the need for precise and consistent rules. We examine the making of international rules concerning the resilience, recovery and resolution of central counterparties (CCPs), which form acritical global financial infrastructure. We argue that regulators played an important role in setting relatively precise and consistent international standards on CCPs over time. Facing common challenges, such as market fragmentation and interlinkages between issues, fostered a problem-solving approach in transgovernmental networks. We also identify the policy coordination tools used by regulators.

Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/17487870.2021.1942874 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:jpolrf:v:25:y:2022:i:3:p:305-321

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/GPRE19

DOI: 10.1080/17487870.2021.1942874

Access Statistics for this article

Journal of Economic Policy Reform is currently edited by Dr Judith Clifton

More articles in Journal of Economic Policy Reform from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().