CPMI and IOSCO take on CCP default auctions
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) this week published their joint discussion paper on central counterparty default management auctions.
The paper comes as global regulators explore ways of improving the processes surrounding clearing house default auctions following last year’s default at Nasdaq clearing.The paper highlights how CCP preparations for default management auctions can be crucial in determining their overall success. CPMI and IOSCO point to a scenario ...
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