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Clearing von außerbörslichen Euro-Derivaten
[Clearing of Euro OTC Derivatives Post-Brexit — How Much Would a Relocation Cost?]

Author

Listed:
  • Volker Brühl

    (Goethe-Universität Frankfurt)

Abstract

Zusammenfassung Auf dem G20-Gipfel wurde 2009 beschlossen, dass insbesondere OTC-Derivate-Transaktionen künftig überwiegend über Zentrale Gegenparteien (Central Counterparties) abgewickelt werden sollten. Weltweit beträgt das pro Jahr abgewickelte Volumen von Zins-, Währungs- und Aktienderivaten mehr als 400 Billionen US-$. Nach dem Brexit stellt sich die Frage, ob das derzeit überwiegend in London abgewickelte Clearing von Euro-OTC-Derivaten auf eine Zentrale Gegenpartei in der EU verlagert werden sollte. Gegner einer solchen Relokation befürchten hohe Kosten für die Marktteilnehmer. Die bislang vorliegenden Kostenschätzungen sind jedoch viel zu hoch.

Suggested Citation

  • Volker Brühl, 2018. "Clearing von außerbörslichen Euro-Derivaten [Clearing of Euro OTC Derivatives Post-Brexit — How Much Would a Relocation Cost?]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 98(4), pages 267-275, April.
    • Handle: RePEc:spr:wirtsc:v:98:y:2018:i:4:d:10.1007_s10273-018-2285-8
    DOI: 10.1007/s10273-018-2285-8
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    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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