Risk Management System in Clearing and Settlement: The Asian and Pacific Equity Markets
This study presents an overview of risk management systems in clearing and settlement. In addition, against the recommendations proposed by Group of Thirty and revised by the International Society of Securities Administrators, current practices of 13 organized stock exchanges in the Asian and Pacific region are presented. Policy issues related to the co-existence of both underlying equity and financial derivative markets in the region and increasing volume of cross-border transactions are also discussed.