--Olivia Thetgyi
Regulators need to resist the temptation to alter a clearinghouse system that has worked well until now, said panelists discussing the challenges for the clearing world at the Swiss Futures and Options Association’s 31st Bürgenstock meeting in Interlaken, Switzerland.
“I think it's important to reflect that clearinghouses were meant to protect markets when markets are under stress,” said Paul Swann, president and coo of ICE Clear Europe in London. “With very few exceptions, there have been sufficient resources in clearinghouses to net and close out as ....