CFTC official: CCPs should war-game default auctions
Risk appetite should be a factor in selecting auction participants – Wasserman
Clearing houses must think carefully about whom they invite to participate in default auctions, a senior official at the US Commodity Futures Trading Commission has said, in one of the first public comments from a national supervisor on auction practices at central counterparties (CCPs) in the wake of the recent Nasdaq Clearing episode.
Bob Wasserman, chief counsel in the CFTC’s clearing and risk division, urged CCPs to consider the business models of their members and ensure that those invited
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