How to crack clearing in just 10 steps | Damon Batten
Meeting the EU mandatory clearing requirements isn't simple, Damon Batten from Catalyst explains how to solve this in 10 easy steps.
As the deadlines for EU mandated clearing comes along, many firms will need to execute a project to connect themselves to multiple CCPs to meet the new regulations. Whilst on the surface this may seem to be a connectivity project, underneath the fundamental changes this brings include new trade booking procedures, allocation of credit lines, new margin requirements, new funding and settlement processes, and in a default situation new procedures to transfer your portfolio to another Clearing Member.
Catalyst have a strong track record of projects in clearing including setting up a number of CCP platforms including JSCC and others, and won a 2015 Queen’s Award for Impact on Global Financial Markets for their work on this and other projects.
I recommend you begin reading all ten parts of Damon's posts as a way to understand the challenges ahead, they can be found on their site here: http://www.catalyst.co.uk/risk-regulation/how-to-crack-clearing-in-just-10-steps/