Mitigating op risks for CCPs post-crisis

Diana Chan talks to Jessica Meek about the operational risks facing CCPs in the current financial landscape

The deputy governor of the Bank of England, Paul Tucker, described central counterparties (CCPs) as "system risk managers" in a speech in London last year. Since the onset of the financial crisis, regulators have been looking long and hard at the financial system to see where and how changes need to be implemented to prevent another crisis. One conclusion has been that central clearing on a wider scale could well have prevented the disastrous consequences of the collapse of Lehman Brothers. CCPs