Central clearing: what obstacles remain for Asia?
Despite the deadline for introducing central clearing already passing, a number of questions are unanswered. Leading figures from around the region voice their concerns
Greg Medcraft, chairman, Australian Securities & Investments Commission
The issue with clearing in Australia is whether the market is big enough to justify a domestic over-the-counter clearer for interest rate swaps (IRSs). If that’s not the case then it will need to happen offshore –so we have created a framework. So far there has been interest from LCH.Clearnet, SwapClear, Eurex and CME to clear in Australia, in addition to the domestic firm, Australian Securities Exchange (ASX).
Concer
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