--Rob McGlinchey
Limiting a clearinghouse member’s exposure to the CCP could limit that CCP’s ability to mitigate risk and manage a systemic failure in the event of a default, according to the Japan Securities Clearing Corporation.
In a letter to the European Commission, Hirokazu Fujisawa, executive director and general manager of the JSCC, said that a clearinghouse should therefore decide on the level of exposure its members ....