This article describes the legal aspects involved in the counterparty substitutionmechanism between a Central Counterparty (CCP) system and the clearingmembers through the contractual processes of multilateral novation netting andopen offer. The substitution process is necessary in order to provide legal certaintyfor the system participants and to ensure them that the CCP guarantees all transactionsas principal.
Field of Research
Socio Economic Objective
970118 Expanding Knowledge in Law and Legal Studies
Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact firstname.lastname@example.org.