The Future of Central Clearing: Maximizing capital and cost efficiency through an integrated cross-product CCP clearing service (Eurex Clearing)

April 2014

KEYWORDS: G20, clearing, central clearing, Oliver Wyman, OTC derivatives, European Union, Global, securities lending, capital requirements, CCP, central counterparties, market participants, regulatory reform, swaps, Equity markets, bonds

Authors:

Oliver Wyman

Organizations:
  • Eurex Clearing

Summary:

This study reviews the regulations impacting derivative and securities financing markets; it highlights the resulting shifts in clearing models and economics and gauges the cost-saving potential of integrated cross-product clearing in client case studies, based on analysis and calculations conducted by Oliver Wyman. The study focuses on capital and cost differentials in the id-term, assuming the new regulations will be implemented with a view to incentivizing the use of central clearing in order to support the G20 agenda.

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