Clearing houses simulate major default event

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By GlobalCapital
03 Aug 2017

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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