The biggest benefit would be less counterparty risk, since each member firm would face only the clearing house, not lots of partners.

此举最大的好处在于减少交易对手风险，因为每个成员公司仅仅面对清理机构，而不是大量同行。

youdao

The last two chapters are peppered with smaller suggestions, such as the creation of a clearing house with proper margin requirements to ease counterparty fears in derivatives markets.

索罗斯在他的新书最后两章里提出了一些小建议，例如，建立一个有适当保证金要求的票据交换所，以此缓解订约方对金融衍生品市场的恐慌。

youdao

Counterparty risk is reduced since all parties work through the same clearing mechanism.

因为所有交易者均通过同一个清算体系完成交易，所以交易对手违约风险下降。

youdao

Under the Dodd-Frank legislation, the Commodity Futures Trading Commission is writing legislation that will move these so-called over-the-counter derivative trades to exchanges that use central counterparty clearing.

FORBES: FIA and ISDA Publish Documentation for Cleared Swaps

Rules for clearing swaps are still being written and the CFTC has pushed back the deadline to have swaps move to central counterparty clearing to Dec. 31 from the original deadline of July 16.

FORBES: FIA and ISDA Publish Documentation for Cleared Swaps

He also said the Fed is encouraging the development of a central counterparty clearing system for trading in credit default swaps and working on strengthening the resiliency of the short-term secured funding markets that left Bear in the lurch in March.

FORBES: Magazine Article