NO.PZ2024050101000110
问题如下:
There are a number of challenges for clearing over-the-counter (OTC) derivative products through a centralized counterparty (CCP). Which of the following statements best summarizes the key challenges f or central clearing of OTC derivative products?
选项:
A.Jurisdictional fragmentation, increased counterparty risk, less transparency, and standardization.
B.Product complexity, illiquid products, presence of wrong-way risk, and lack of standardization
C.Illiquid products, jurisdictional fragmentation, presence of wrong-way risk, and legal concerns
D.Lack of standardization, increased counterparty risk, increased dependency risk, and less transparency
解释:
Lack of standardized products, complexity, illiquid products, and presence of wrong-way risk are characteristics of OTC derivative products that make CCP clearing challenging. OTC derivative products need to be standardized before they can be cleared through a CCP. More complex and illiquid derivative products are problematic for CCPs because their unique features make them difficult to value. Products with wrong-way risk are also more complex and create additional concerns for the added risk to CCPs in the event of default.
老师,即使是OTC市场引入CCP,不是要先做到标准化,以提高流动性吗?