Clearing, Settlement, and Operational Risk are concerned with bilateral vs. multilateral clearing; gross vs. net settlement; centralized vs. distributed ("blockchain") ledgers; the roles played by clearinghouses and systemically important financial market utilities (SIFMUs) -- and what can go wrong (Operational Risk).
Clearing, Settlement, and Depository Issues:
A Review of the BIS White Paper by Braeckevelt (2006)
Y.Fan, R.Wu, X.Zhao
The Quest for Speed in Payments:
A Review of the BIS White Paper by Beck et al (2017)
T.Yang and P.Qu
The Shanghai Clearing House
J.Feng, L.Hua, L.Lin
Contracting Innovations and the Evolution of Clearing and Settlement Methods at Futures Exchanges: An Assessment of Moser (2002)
X.Zhang, Y.Tan, J.Wu
Moderator
Roy Freedman
Adjunct Professor