CPSS and IOSCO to revamp clearing guide
The Basel-based Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO) have set up a working group to review the application of recommendations for central counterparties (CCPs) to the over-the-counter (OTC) derivative market.
Released in 2004, the Recommendations for Central Counterparties set out standards for risk management of a central counterparty, which not only clears trades but also stands
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