Second, I will highlight what I see as the main shortcomings in this field. And third, I will suggest possible avenues for addressing them. Importance of coordination within the central clearing community Effective interaction between banks and CCPs is a prerequisite for safe and efficient central clearing, given that CCPs manage risks for banks rather than taking on financial risk themselves.
As a result, the vast majority of CCPs’ financial defences are provided by their clearing members. Banks are also critical in providing access to global CCPs for smaller banks and non-bank clients and as service providers to CCPs. Interdependencies with banks arise not only within, but also across CCPs, given that major global banking groups are critical for several CCPs.