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How Concentrated Is the Clearing Ecosystem and How Has It Changed Since 2007?

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Abstract

After the global financial crisis of 2008–09, regulators across the globe enacted regulations to repair and strengthen financial markets. Part of the regulations were to mandate that more financial market contracts are cleared through central counterparties (CCPs). CCPs are financial institutions that guarantee performance of a financial contract—typically the buying and selling of contracts related to securities or derivatives. In the United States, the regulations for central clearing were established by the Dodd–Frank Act in 2010 and further promulgated by rules enacted by the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC).

Suggested Citation

  • Ketan B. Patel, 2024. "How Concentrated Is the Clearing Ecosystem and How Has It Changed Since 2007?," Chicago Fed Letter, Federal Reserve Bank of Chicago, vol. 497, pages 1-9, July.
    • Handle: RePEc:fip:fedhle:99156
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    More about this item

    Keywords

    financial economics; Microeconomics; Economic history;
    All these keywords.

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • N22 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: 1913-

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