OTC Derivatives Clearing Summit Europe: CCP model secrecy is ‘wrong and unjustifiable’, says BoE official

CCPs should be required to make details of their models public, says the Bank of England’s payments and infrastructure division head

Central counterparties (CCPs) should make full details of their risk and margin models publicly available, and any attempt to withhold information on the basis it is proprietary is wrong and unjustifiable, according to a senior Bank of England official.

Speaking at the OTC Derivatives Clearing Summit Europe in London yesterday, Edwin Schooling Latter, head of the payments and infrastructure division at the Bank of England, said a variety of new, relatively small derivatives users will be