Clearing services are a major area in which organised
derivatives exchanges (ODEs) can compete with each other and
with the growing OTC market, according to a recently published
International Monetary Fund (IMF) working paper.
IMF economist Jens Nystedt, the author of the report, told FO
Week that some of major exchanges have been "lagging" in the
development of advanced clearing services. He said, "I can see
- given the size and growth of the OTC market - the potential
for much more growth in clearing is certainly there". Nystedt
added that exchanges that take an innovative approach to
in-house development hold a comparative advantage to those that
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