Search: Clearing

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RBA Glossary definition for Clearing

Clearing – The process of transmitting, reconciling and in some cases confirming payment instructions prior to settlement; it may include netting of instructions and the calculation of final positions for settlement.

Search Results

Central Counterparty Links and Clearing System Exposures

28 Oct 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
Research Discussion Paper – RDP 2013-12 Central Counterparty Links and Clearing System Exposures. ... central clearing, financial markets, financial stability, interest rates, money, payments. Links between central counterparties (CCPs) enable
https://www.rba.gov.au/publications/rdp/2013/2013-12.html

Central Counterparty Links and Clearing System Exposures

1 Oct 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/2013/2013-12/

Extensions

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
N. 1. participants who consolidate their operations in CCP1, clearing both products through that CCP. ... N. 2. participants who consolidate their operations in CCP2, clearing both products through that CCP.
https://www.rba.gov.au/publications/rdp/2013/2013-12/extensions.html

Conclusion

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
RDP 2013-12: Central Counterparty Links and Clearing System Exposures 6. Conclusion.
https://www.rba.gov.au/publications/rdp/2013/2013-12/conclusion.html

References

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
RDP 2013-12: Central Counterparty Links and Clearing System Exposures References. Nathanael Cox, Nicholas Garvin and Gerard Kelly. ... Duffie D and H Zhu (2011), ‘Does a Central Clearing Counterparty Reduce Counterparty Risk?’,.
https://www.rba.gov.au/publications/rdp/2013/2013-12/references.html

Results

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
RDP 2013-12: Central Counterparty Links and Clearing System Exposures 4. Results. ... The intuition behind this result is that, as shown by Duffie and Zhu (2011), the optimal market structure from a risk management perspective is a single CCP clearing
https://www.rba.gov.au/publications/rdp/2013/2013-12/results.html

Introduction

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
With central clearing of OTC derivatives in its infancy, the eventual market outcome is uncertain. ... is maximised when participants of linked CCPs concentrate their clearing in one CCP only.
https://www.rba.gov.au/publications/rdp/2013/2013-12/introduction.html

CCP Links and Exposure

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
RDP 2013-12: Central Counterparty Links and Clearing System Exposures 2. CCP Links and Exposure. ... CPSS (2010) provides a broad overview of clearing market structure developments over the past decade.
https://www.rba.gov.au/publications/rdp/2013/2013-12/ccp-links-cs-exposures.html

Model Framework

31 Dec 2013 RDP 2013-12
Nathanael Cox, Nicholas Garvin and Gerard Kelly
RDP 2013-12: Central Counterparty Links and Clearing System Exposures 3. Model Framework. ... The net obligation of participant i to a CCP clearing K products, however, is the sum across all j in N and k in K.
https://www.rba.gov.au/publications/rdp/2013/2013-12/model-framework.html