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Clearing, Settlement and Custody, 2nd Edition by David Loader

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Chapter 2

The role of the clearing house, trade repositories and central securities depositories

Abstract

This chapter looks in more depth at the clearing organisations, the securities depositories and trade repositories looking at the position and importance in the clearing and settlement process.

We look at the origins of a major clearing house (LCH Clearnet) and in more detail at the CCP concept and how it has developed globally including the structure of clearing as applied by the JSCC in Japan.

We also look at the regulatory impact behind the establishing of trade repositories plus how a clearing house successfully managed the default of Lehman Brothers.

Keywords

CCP; LCH.Clearnet; JSCC; trade repositories

In Chapter 1 we determined that whenever ...

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