Sign in
Tip from euro-book.co.uk
Search tools
Book recommendations
Latest news
Advertising
Paid advertisement
- 0 Results
Lowest price: € 10.11, highest price: € 67.99, average price: € 48.30
...
Risk Controllers
(*)
Risk Controllers - used book

2008, ISBN: 0470686324

ID: 3-17373336

Crises create unlikely heroes. The bankruptcy of Lehman Brothers on 15 September 2008 was no exception. When Lehman sought protection from its creditors in the US that day a small number of specialist financial institutions sprang into action to keep the world's securities and derivatives exchanges at work. First in Europe, and later around the globe, central counterparty clearing houses, or CCPs, stepped in to rescue trillions of dollars worth of trades caught up in the Lehman collapse. Without their action, the global financial meltdown threatened by the failure of the 158 year old investment bank would have been an instant reality.These little known organizations fulfilled their emergency role of successfully completing trades that they had guaranteed. They also ensured that the world's securities and derivatives exchanges could continue to function and handle trading volumes that leapt into the stratosphere as prices for shares, bonds and other exchange traded instruments gyrated wildly in the crisis.Lehman's bankruptcy placed in jeopardy trillions of dollars worth of transactions conducted by and through the investment bank and its many subsidiaries. Assets were caught in limbo, spreading financial hardship, and in some cases collapse, to companies at the other end of these trades. As became clear when bankruptcy administrators on both sides of the Atlantic tried to make sense of the wreckage, some of these assets would be out of reach for creditors for months if not years. But the story was very different for those trades transacted on derivatives and securities exchanges where central counterparty clearing houses guaranteed their completion and also for those transactions which, while negotiated bilaterally 'over-the-counter' (OTC) between buyer and seller, were centrally cleared by CCPs.Within a week, most outstanding open positions had been successfully hedged so that they could pose no threat of further losses to creditors or added chaos to the world financial system. Within two weeks, most of Lehman's customer accounts were successfully transferred to other investment companies. By late October, it was apparent that CCPs in most leading financial markets had successfully managed the biggest default in financial history without cost to their member companies.For those at the centre of the crisis, the performance of the CCPs permitted a rare outburst of satisfaction. In a business where sober understatement is the norm, Chris Tupker, Chairman of LCH.Clearnet, claimed that the actions of the transnational European clearing group 'saved the City' in the weeks following the Lehman bankruptcy. On the other side of the Atlantic, Don Donahue, the Chairman and Chief Executive of the Depository Trust and Clearing Corporation of the US, reported that DTCC was 'able to ensure reliability and mitigate risk across the industry' despite 'unprecedented volatility and shaken confidence' in the financial services sector.Thanks to CCPs, the world's securities exchanges have continued to raise risk capital for enterprises while futures and options exchanges continue to provide investors, traders and entrepreneurs with the means to protect themselves against risk.One consequence of the crisis has been to change fundamentally the status of CCPs in financial markets and the priority they are accorded on the agenda of policy makers. Central counterparty clearing houses emerged from days of chaos among the very few organisations in the global financial system with a good story to tell.This book takes up the story of central counterparty clearing by examining in detail how CCPs functioned in the emergency that followed Lehman's bankruptcy petition. The book considers how clearing and CCPs have shot up the public policy agenda as a result of their successes in dealing with the Lehman default and reviews moves to use CCPs to solve some of the problems that underlay and were exposed by the financial crisis. These include initiatives, suppo Livre - Livre, [PU: Wiley]

 Fnac.com
Nr. Shipping costs:, Le délai dépend du marchand, zzgl. Versandkosten. (EUR 8.30)
Details...
(*) Book out-of-stock means that the book is currently not available at any of the associated platforms we search.
The Risk Controllers - Peter Norman
(*)
Peter Norman:
The Risk Controllers - hardcover

2010, ISBN: 9780470686324

ID: 9780470686324

"The recent crisis has, thankfully, renewed interest in the importance of central counterparties: how they can help preserve stability or, as Hong Kong showed in 1987, undermine stability if they are not super sound. Peter Norman's book places the role of clearing houses in a historical context, and explains why the financial system's plumbing matters so much. It should be read by anyone interested in building safer capital markets." Paul Tucker, Deputy Governor Financial Stability, Bank of England "The business of clearing securities has a long and remarkable history that, thanks to Peter Norman, at last has been recounted for a wide audience. This book claims a place as one of the essential primers for those seeking to understand the global financial sector from the inside out." Donald F. Donahue, Chairman and CEO, The Depository Trust & Clearing Corporation "This book provides an authoritative, highly readable and salutary reminder that if centralised clearing arrangements on the lines that are now becoming operational had been in place five years ago, the scale and impact of the recent financial crisis would have been very much less." Sir David Walker, Senior Adviser, Morgan Stanley "Peter Norman succeeds in producing a lively and detailed analysis of the clearing business, exposing its strength and weaknesses, and containing numerous lessons for bankers, clearers and regulators. Although CCPs concentrate risk, actual experience - described in Chapter 3 on Lehman - indicates that those with well organised and prepared winding down procedures may considerably reduce systemic risk." Prof. Eddy Wymeersch, former chairman of CESR "Those who in the past may have viewed central counterparty clearing as little more than a back-office 'utility' will look at the subject very differently after reading The Risk Controllers. Peter Norman has expertly woven past and present history together - and peered into the future - to create a comprehensive work that conveys the significance of guarantees that underpin the on-going integrity of our global financial markets." William J. Brodsky, Chairman and CEO, Chicago Board Options Exchange "The fallout from the 2008 financial crisis is forcing the world of clearing and settlement out of its traditional back-office obscurity into the limelight. Peter Norman's book presents an invaluable view of the history, operations and strategic issues relevant to this world. At a time when market infrastructure is undergoing the most fundamental change in living memory, his book is an essential companion to anybody involved in helping to shape the new landscape." Richard Berliand, former Head of Prime Services and Market Structure at J.P. Morgan "The Risk Controllers is an invaluable historical and investigative work about one of the more arcane, yet critical parts of the financial industry. As a result of the financial crisis, Central Counterparty Clearing is now full square at the centre of the global financial repair agenda, especially for derivatives markets, which makes this book particularly timely and welcome. This book will be the reference work on this subject for years to come." David Wright, Deputy Director General, Internal Market, European Commission (2007-2010) "A must-read for all involved in the development, implementation and oversight of new clearing regulations following the recent financial crisis. Peter has presented a rich history of clearing in a concise and significant manner for those who must seize the successes of the past in putting today's new clearing regimen in place. All should thank Peter for creating this important work which is so relevant in today's world." Engelse Boeken Literatuur Alle literatuur Engelse Boeken > Literatuur > Alle literatuur Hardcover, [PU: Wiley]

BookSpot.nl
bookspot.nl
Shipping costs:zzgl. Versandkosten., plus shipping costs
Details...
(*) Book out-of-stock means that the book is currently not available at any of the associated platforms we search.
The Risk Controllers - Peter Norman
(*)
Peter Norman:
The Risk Controllers - new book

ISBN: 9780470686324

ID: 1917490251

Clearing houses, or CCPs, were among the very few organisations to emerge from the global financial crisis with their standing enhanced. In the chaotic aftermath of the bankruptcy of Lehman Brothers, they successfully completed trades worth trillions of dollars in a multitude of financial instruments across listed and over-the-counter markets, and so helped avert financial Armageddon. That success transformed the business of clearing. Governments and regulators around the world gave CCPs and the clearing services they provide a front-line role in protecting the global economy from future excesses of finance. CCPs, which mitigate risk in financial markets, responded by greatly expanding their activities, notably in markets for over-the-counter derivatives, and often in fierce competition with one another. In The Risk Controllers, journalist and author Peter Norman describes how CCPs operate, how they handled the Lehman default, and the challenges they now face. Because central counterparty clearing is a complex business with a long history that continues to influence decisions and structures even in today´s fast changing world, The Risk Controllers explores the development of CCPs and clearing from the earliest times to the present. It draws on the experiences of the people who helped to shape the business of clearing today. It sets the development of CCPs and clearing in the broader context of changes in society, politics and regulation. The book examines turning points, such as the 1987 stock market crash, that set clearing on a new path and the impact of long running trends, including the exponential growth of computer power and the ebb and flow of globalisation. Written in non-technical language, The Risk Controllers provides a unique and accessible guide to CCPs and clearing. It is essential reading for clearing professionals, legislators and regulators whose job it is to take this vitally important business into the future. ´´The recent crisis has, thankfully, renewed interest in the importance of central counterparties: how they can help preserve stability or, as Hong Kong showed in 1987, undermine stability if they are not super sound. Peter Norman´s book places the role of clearing houses in a historical context, and explains why the financial system´s plumbing matters so much. It should be read by anyone interested in building safer capital markets.´´ Paul Tucker, Deputy Governor Financial Stability, Bank of England Central Counterparty Clearing in Globalised Financial Markets Buch (fremdspr.) Bücher>Fremdsprachige Bücher>Englische Bücher, John Wiley & Sons

 Thalia.de
No. 22859009. Shipping costs:, Lieferbar in 1 - 2 Wochen, DE. (EUR 0.00)
Details...
(*) Book out-of-stock means that the book is currently not available at any of the associated platforms we search.
The Risk Controllers: Central Counterparty Clearing in Globalised Financial Markets - Peter Norman
(*)
Peter Norman:
The Risk Controllers: Central Counterparty Clearing in Globalised Financial Markets - hardcover

ISBN: 9780470686324

ID: 9780470686324

The Risk Controllers: Central Counterparty Clearing in Globalised Financial Markets The-Risk-Controllers~~Peter-Norman Business>Accounting/Finance>Accounting/Finance Hardcover, Wiley

 BarnesandNoble.com
new Shipping costs:zzgl. Versandkosten., plus shipping costs
Details...
(*) Book out-of-stock means that the book is currently not available at any of the associated platforms we search.
The Risk Controllers - Peter Norman
(*)
Peter Norman:
The Risk Controllers - hardcover

2011, ISBN: 9780470686324

ID: 12891281

Central Counterparty Clearing in Globalised Financial Markets, Hardcover, Buch, [PU: John Wiley & Sons Ltd]

lehmanns.de
Shipping costs:Versand in 10-15 Tagen, , Versandkostenfrei innerhalb der BRD. (EUR 0.00)
Details...
(*) Book out-of-stock means that the book is currently not available at any of the associated platforms we search.

Details of the book
The Risk Controllers

Clearing houses, or CCPs, were among the very few organisations to emerge from the global financial crisis with their standing enhanced. In the chaotic aftermath of the bankruptcy of Lehman Brothers, they successfully completed trades worth trillions of dollars in a multitude of financial instruments across listed and over-the-counter markets, and so helped avert financial Armageddon. That success transformed the business of clearing. Governments and regulators around the world gave CCPs and the clearing services they provide a front-line role in protecting the global economy from future excesses of finance. CCPs, which mitigate risk in financial markets, responded by greatly expanding their activities, notably in markets for over-the-counter derivatives, and often in fierce competition with one another. In The Risk Controllers, journalist and author Peter Norman describes how CCPs operate, how they handled the Lehman default, and the challenges they now face. Because central counterparty clearing is a complex business with a long history that continues to influence decisions and structures even in today's fast changing world, The Risk Controllers explores the development of CCPs and clearing from the earliest times to the present. It draws on the experiences of the people who helped to shape the business of clearing today. It sets the development of CCPs and clearing in the broader context of changes in society, politics and regulation. The book examines turning points, such as the 1987 stock market crash, that set clearing on a new path and the impact of long running trends, including the exponential growth of computer power and the ebb and flow of globalisation. Written in non-technical language, The Risk Controllers provides a unique and accessible guide to CCPs and clearing. It is essential reading for clearing professionals, legislators and regulators whose job it is to take this vitally important business into the future. "The recent crisis has, thankfully, renewed interest in the importance of central counterparties: how they can help preserve stability or, as Hong Kong showed in 1987, undermine stability if they are not super sound. Peter Norman's book places the role of clearing houses in a historical context, and explains why the financial system's plumbing matters so much. It should be read by anyone interested in building safer capital markets." Paul Tucker, Deputy Governor Financial Stability, Bank of England

Details of the book - The Risk Controllers


EAN (ISBN-13): 9780470686324
ISBN (ISBN-10): 0470686324
Hardcover
Publishing year: 2011
Publisher: John Wiley & Sons Ltd
Weight: 0,849 kg
Language: eng/Englisch

Book in our database since 2011-03-16T21:47:20+00:00 (London)
Detail page last modified on 2019-10-15T21:07:16+01:00 (London)
ISBN/EAN: 9780470686324

ISBN - alternate spelling:
0-470-68632-4, 978-0-470-68632-4


< to archive...