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RBA Glossary definition for CCP

CCP – Central counterparty

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CCP Links and Exposure

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
one between the buyer and its CCP, and one between the two CCPs. ... Figure 1: Unlinked and Linked CCPs. However, CCP links also generate exposures that could pose financial stability risks.
https://www.rba.gov.au/publications/rdp/2013/2013-12/ccp-links-cs-exposures.html
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The Model

22 Nov 2016 RDP 2016-07
James Hansen and Angus Moore
The gross payments the CCP makes in period t 1 are given by:. ... In reality, CCPs scale default fund requirements based on traders' activity through the CCP.
https://www.rba.gov.au/publications/rdp/2016/2016-07/model.html
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Developments in the Clearing and Settlement Industry

27 Sep 2023 PSB Annual Report – September 2023
Developments in the Clearing and Settlement Industry | Payments System Board Annual Report – September 2023
https://www.rba.gov.au/publications/annual-reports/psb/2023/developments-in-the-clearing-and-settlement-industry.html

Contagion Analysis

29 Sep 2015 RDP 2015-02
Alexandra Heath, Gerard Kelly and Mark Manning
In the case of a CCP, therefore, we focus solely on the propensity for secondary stress. ... VMGH therefore allows for partial payment of variation margin obligations by a CCP.
https://www.rba.gov.au/publications/rdp/2015/2015-02/contagion-analysis.html
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Financial Market Infrastructures

28 Sep 2022 PSB Annual Report – September 2022
In the event that a participant defaults, the CCP takes over its portfolio. ... The main source of financial resources for CCPs is initial margin, which is an indicator of the level of risk the CCP manages.
https://www.rba.gov.au/publications/annual-reports/psb/2022/financial-market-infrastructures.html

Regulatory Developments in Financial Market Infrastructures

12 Sep 2014 PSB Annual Report – 2014
ESMA concluded that Australia was equivalent with respect to the regulation of CCPs, TRs and mandatory trade reporting. ... Recognition by ESMA is also linked to a CCP's status as a Qualifying CCP in the EU.
https://www.rba.gov.au/publications/annual-reports/psb/2014/reg-dev-fin-mrkt-infra.html

The Efficiency of Central Clearing: A Segmented Markets Approach

24 Oct 2016 RDP PDF 2054KB
3.4 First-order Conditions without a CCP 10. 3.5 The CCP 10. ... 20 In reality, CCPs scale default fund requirements based on traders’ activity through the CCP.
https://www.rba.gov.au/publications/rdp/2016/pdf/rdp2016-07.pdf

Central Counterparty Links and Clearing System Exposures

2 Feb 2015 RDP PDF 3395KB
to be reduced by allowing netting across CCPs,CCPs become exposed to one another through the possibility of a CCP default.The change in system exposure resulting from these two effects ... We use this exposure-netting ratio, R, to assess the effect of
https://www.rba.gov.au/publications/rdp/2013/pdf/rdp2013-12.pdf

OTC Derivatives Reform: Netting and Networks | Conference – 2013

19 Aug 2013 Conferences
Alexandra Heath, Gerard Kelly and Mark Manning
both products are centrally cleared with:. – each product cleared via a different CCP (‘separate CCPs’). – ... Second, exposure under the single CCP structure gradually approaches that under the structure with separate CCPs.
https://www.rba.gov.au/publications/confs/2013/heath-kelly-manning.html

Central Counterparty Loss Allocation and Transmission of Financial Stress

16 Mar 2015 RDP PDF 1285KB
connections with the financial markets that a CCP serves, its participants, and linked CCPs and other financial market infrastructures). ... As noted, the scope for netting will depend on the extent to which transactions are cleared non-centrally,
https://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-02.pdf