The International Swaps and Derivatives Association, Inc. (ISDA) has announced the publication of an in-depth discussion and analysis of the purposes, function and issues associated with central clearing of over-the-counter (OTC) derivatives.
The paper, “The Economics of Central Clearing: Theory and Practice” is authored by Craig Pirrong, Professor of Finance at the Bauer College of Business at the University of Houston. It is the first in a series of discussion papers covering key topics in OTC derivatives, public policy and financial regulation that will be written by acknowledged experts in their fields of study.