Industry heavyweights call for CCP reform in whitepaper

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By GlobalCapital
24 Oct 2019

A group of the world’s biggest buy-side and sell-side firms issued a collective call to action on Thursday, calling on regulators to make clearing houses (CCPs) more resilient and improve the way the market deals with their failures.

In a joint paper, BlackRock, Goldman Sachs, JP Morgan Chase, Allianz, Citi, Société Générale, State Street, T Rowe Price and Vanguard pushed regulators to enhance the “safety and soundness” of central counterparties.

While acknowledging there has been some improvement over recent years, the firms argue that regulators still ...

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