Seminar: Clearing, Settlement, Operational Risk

Lecture / Panel
For NYU Community

Clearing and settlement systems are complex infrastuctures concerned with the payment and delivery of financial products. This seminar addresses some current concerns and case studies related to clearing and settlement systems, and specifically addresses the key question in operational risk: "What can go wrong?"


A Case Study of a Clearing House Failure: The 1974 Default of the Paris Commodity Exchange's Caisse de Liquidation des Affaires en Marchandises (CLAM)
Q.Liu, G.Luo, H.Luo, Q.Zhu

Exploring Clearing and Settlement Risk: A Case Study of Adler Coleman
R.Cao, J.Ma, X.Zhu, S.Wang

The 1987 Clearing House Failure of the Hong Kong Futures Exchange
J.Hui, Y.Li, Z.Luo, A.Ray 

A Case Study of Central Counterparty Default Management: the Collapse of Lehman Brothers
Z.Wang, Y.Zhu, S.Cheng, H.Yao

Evaluating the Real-World Efficacy of DTCC's Distributed Ledger (Project Ion) in the Clearing and Settlement Process
T.Wei, X.Wu, G.Huang, T-W.Yang