OTC Derivatives: Bilateral Trading & Central Clearing - Murphy, David
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The OTC derivative market has been hit by a massive wave of regulatory change. Capital and margin requirements have increased, trade reporting has been mandated, and execution mechanisms are evolving. Most of all, central clearing is being imposed for many transactions. OTC Derivatives explains the new rules and the new models. It discusses the traditional bilateral market, then sets out how this will change due to central clearing and the new ways in which OTC derivatives will be traded. The risks of OTC derivatives clearing houses are discussed in detail, as are the protections that CCPs…mehr

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Produktbeschreibung
The OTC derivative market has been hit by a massive wave of regulatory change. Capital and margin requirements have increased, trade reporting has been mandated, and execution mechanisms are evolving. Most of all, central clearing is being imposed for many transactions. OTC Derivatives explains the new rules and the new models. It discusses the traditional bilateral market, then sets out how this will change due to central clearing and the new ways in which OTC derivatives will be traded. The risks of OTC derivatives clearing houses are discussed in detail, as are the protections that CCPs have against these risks. We also look at alternatives to some of the policy decisions, showing the balance between different costs and benefits of various approaches to derivatives market stability. The book is both a detailed primer on OTC derivatives clearing and a powerful insight into post-crisis financial regulation.
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Autorenporträt
David Murphy is a leading expert in financial stability and regulatory capital. He has been involved in financial regulation and derivatives for over fifteen years, working as a supervisor, risk manager, and most recently as founder of Rivast consulting, a boutique risk management consultancy. He had a front row seat in the post-crisis financial reforms as Head of Risk at ISDA, and hence he is ideally placed to comment on the financial system that is emerging from them. Dr. Murphy has published widely on risk management, OTC derivatives and capital, and is well known for his contributions to financial regulation.