摘要
中央对手方结算制度可有效降低场外衍生品市场的信用风险,但由于中央对手方在集中管理信用风险、发挥自律监管作用的同时,也将原本分散的风险集于一身,因此应当实施多维度审慎监管:在主体监管上严格会员准入标准,在客体监管上设定适当的产品适用范围,在行为监管方面须事先制定有序的会员违约处理规则。上海清算所作为我国场外衍生品集中结算的中央对手方,应从主体、客体和行为三方面进行多维度审慎监管,并不断完善自律监管功能。
Central Counterparty （CCP） clearing can help to manage credit risks more effectively and has a function of self - regulation. However, a CCP can also concentrate the risks to itself. Therefore, the CCP should call for prudential regulation in multiple dimensions： strict membership standards and proper range of application as well as well - design default regulation and process. Shanghai Clearing House is the CCP for all the OTC derivatives in China, it should also carry out prudential regulation in multiple dimensions and perfect its selfregulation ability.
出处
《商业研究》
CSSCI
北大核心
2015年第2期180-184,共5页
Commercial Research
关键词
场外衍生品
中央对手方
多维度
审慎监管
OTC derivatives
CCP
multiple dimensions
prudential regulation
