Standardized derivatives will also have to be handled by central clearinghouses, another layer of risk management.
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In recent years, several smaller licensing clearinghouses claim to offer a more efficient and robust service to clients.
How is HFA responding to the innovations of smaller licensing clearinghouses like Rightsflow?
Dodd-Frank has new requirements to use clearinghouses to guarantee derivatives trades and to improve transparency in the secretive market.
The one sensible idea the Administration has had was put on the table several months ago--the creation of clearinghouses or exchanges for credit-default swaps.
Where was the U.S. Securities and Exchange Commission, which has rulemaking approval for the SROs, such as the NYSE, the NASD, regional stock exchanges and clearinghouses?
Growing demand for such Internet solutions is creating "infomediaries" - firms that act as central clearinghouses for business information or matchmakers for suppliers and corporate buyers worldwide.
Zagat.com and other companies flying under the radar are developing interfaces that look seamless to the customer but would actually act as clearinghouses for multiple reservations sites.
Full commercialization of the LME is expected from 2015 onward, and HKEx plans to complete integration over the next year, including the introduction of its own clearinghouses and more services aimed at Asian clients.
Will these be sensible, such as rationalizing our myriad, overlapping financial regulatory structures and pushing for the creation of exchanges and clearinghouses for exotic instruments, such as credit default swaps, so we have transparency and standardization?
The author Louise Story argues that nine dealers dominate the clearinghouses that manage risk in the over-the-counter derivatives world and that this allows them to keep a grip on the ultra-lucrative derivatives trade, despite attempts at reform.
While the reasons for the change at the top of the HFA were not disclosed, what is apparent is that licensing clearinghouses will certainly continue to face new challenges with the decline of physical media and the emergence of internet streaming.
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