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CCP’s skin in the game fell slightly in Q4, making up 1.8% of the prefunded total

Risk.net Print this page   At most leading central counterparties (CCPs), the amount of own capital they put on the line to cover losses in the event of a clearing members’ default is vanishingly small relative to that contributed by participants. On average, CCP own funds made up a little less than 4% of prefunded default fund resources as of Q3.  Risk Quantum assessed data disclosed for 23 default funds across 10 top CCPs. The Fixed Income Clearing Corporation (FICC) had the lowest amount of skin in the game (SITG) as Only users who have a paid subscription or are part of a...

Risk.net Print this page   The Japan Securities Clearing Corporation’s (JSCC) skin in the game increased more than 9% over the third quarter, following the integration of the Japan Commodity Clearing House (JCCH). Own funds held by JSCC to handle a participant collapse amounted to ¥27.6 billion ($266 million) at end-September. This is up from ¥25.3 billion at end-June. The additional ¥2.4 billion was posted to cover the default of participants in the newly-integrated commodities clearing services. The integration of Only users who have a paid subscription or are part of ...