08 Jun 2015
ASX strives to keep its clearing monopoly

…It is doubtful the CFR will be digging into ASX’s cost of capital, considering it has raised capital from ASX shareholders to strengthen the clearing company’s ability to cover counterparty risks and deal with defaults. Nevertheless, there is merit in the arguments put by consultant Market Structure Partners that the ASX do more work on risk calibration to avoid over-collateralisation for market participants…