RDP 2013-12: Central Counterparty Links and Clearing System Exposures Equation

R = N 1 ( 2 N + 2 ( N 1 + N 2 ) + 2 N ( N 1 + N 2 ) + 2 N 1 N 2 2 N N 1 MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamOuaiabg2 da9maalaaabaWaaOaaaeaacaWGobGaeyOeI0IaaGymaaWcbeaakmaa beaabaGaaGOmaiaad6eaiiaacqWFYaIOcqGHRaWkdaGcaaqaaiaaik daaSqabaGcdaqadaqaaiaad6eadaWgaaWcbaGaaGymaaqabaGccqGH RaWkcaWGobWaaSbaaSqaaiaaikdaaeqaaaGccaGLOaGaayzkaaGaey 4kaSIaaGOmamaakaaabaGaamOtaiab=jdiIoaabmaabaGaamOtamaa BaaaleaacaaIXaaabeaakiabgUcaRiaad6eadaWgaaWcbaGaaGOmaa qabaaakiaawIcacaGLPaaacqGHRaWkcaaIYaGaamOtamaaBaaaleaa caaIXaaabeaakiaad6eadaWgaaWcbaGaaGOmaaqabaaabeaaaOGaay jkaaaabaGaaGOmaiaad6eadaGcaaqaaiaad6eacqGHsislcaaIXaaa leqaaaaaaaa@594C@