相对于其他清算模式,中央对手方清算能够更有效地提高金融市场的透明度和稳定性。金融危机之后,在场外市场推进强制集中清算成为国际上的共识。中国为顺应全球金融市场变革的潮流,成立了专业化的清算机构,并逐步在场外金融市场建立起运行规范、市场化色彩明显、对标国际的中央对手方清算机制。本章旨在介绍中央对手方清算的概念、作用及发展现状,特别是对中国场外金融市场中央对手方清算机制的建立及发展历程进行较为全面的梳理。
<<Compared with other clearing mode,central counterparty clearing can more effectively improve the transparency and stability of financial market. After the financial crisis,promoting the mandatory CCP clearing in OTC market has become the consensus in the world. In order to adapt to the changing trend of the global financial market,China set up a CCP clearing organization,and has gradually to established the standardized-operation and market-oriented CCP clearing mechanism in OTC market which conform to the international standard. This paper introduces the concept,function and development of CCP clearing,and especially introduces the establishment and development of China’s CCP clearing mechanism in OTC market.
<<Keywords: | OTC MarketCCPClearingDerivative |