Home  Journals  Finance and Credit  40(376) - 2009 October

The article is devoted to the central counterparty(CCP) role in the financial market

Available online: 11 November 2009

Subject Heading: CLEARING

JEL Classification: 

The author presents some historical background regarding the birth of the CCP in the global financial market and in Russia as a new infrastructural institute designed to provide more stability to the market and the most comprehensive risk management system to its participants. He explains the nature of CCP as an institute and provides clear picture of the activity of the CCP in Russia - Commercial Bank “National Clearing Centre” (Closed joint-stock company), He also deeply analyses the most important aspects of the CCP activity, giving his idea on obvious advantages for participants of the CCP go-between role in the market as well as describing certain circumstances where the CCP role might have negative impact on risk management. Regarding the CCP risk managеment system it is explained in detailed way what risks and exposures are covered by CCP . In conclusion the author expresses his opinion on the future of the CCP, making it clear that the role of the institute in the financial market will increase.

Keywords: clearing, central counterparty, risk management, financial market

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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