Clearing houses simulate major default event
A group of clearing houses this week announced the results of risk management process tests that simulated the default of a major derivatives clearing member.
The ‘fire-test’ was successfully negotiated over a five day period in April, with only one of 52 market participants failing.
Three of the biggest global derivative clearing houses — Eurex Clearing, LCH Swapclear and CME — conducted the risk management assessment.Under the stress test, a ...
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