Analysis of the Central Counterparty and its Inspirations to China

摘要：

This paper describes the importance of the central counterparty to reduce the systemic risks of financial derivatives. It comprehensively analyzes the significance and impacts on the central counterparty to systemic financial risk monitoring, from its principle, role, advantages and disadvantages. In this article, it is believed the obvious advantages of the central counterparty lies in diversification of systemic risk, but it might lead to greater risk without legal regulatory and settlement mechanisms. China should gradually strengthen risk control and management of derivative tools.

关键词： central counterparty systemic financial risk transaction clearing risk control and management

作者: LIAO Haitao LI Xunqi SHAI Xiyao

作者单位: School of Economics and Commerce, South China University of Technology, Guangzhou, China,510006 Faculty of English Language and Culture, Guangdong University of Foreign Studies, Guangzhou, China,

会议类型: 国际会议

会议名称: The 4th (2012) International Conference on Financial Risk and Corporate Finance Management(第四届(2012)金融风险与公司金融国际研讨会 FRCFM)

会议地点: 大连

会议语种:英文

页码: 88-93

在线出版日期: 2012-07-07（万方平台首次上网日期，不代表论文的发表时间）