For over five years now, mandatory clearing of OTC derivatives has been at the top of the agenda for many market participants across the globe. The US has successfully implemented clearing procedures, and now is in the process of resolving outstanding issues in its clearing infrastructure.
Peter Norman is a London-based journalist and writer and DTCC-CSFI Post-Trade Fellow. "The Risk Controllers: Central Counterparty Clearing in Globalised Financial Markets" is his second book explaining the workings and history of an important financial infrastructure. "Plumbers and Visionaries: Securities Settlement and Europe's Financial Market," his path-breaking account of the history and prospects of the securities settlement industry in Europe, was published by John Wiley & Sons in December 2007.