ABSTRACT
This conclusion presents some closing thoughts on the key concepts discussed in the preceding chapters of this book. The book analyses the UK regime of Central Counterparties (CCP) in the over-the-counter derivatives market. It explains the regimes emerged as a result of concerns triggered by the global financial crisis. The book exemplifies two drawbacks firstly, the absence of an organisational culture to implement risk-based regimes, and secondly, as a result of the prioritisation of risks and regulatory actions are by the shortcomings. It explores the suitability of implementing ring-fencing for CCPs. The book argues that the design and implementation of governance rules might contribute to solve, at least partially, the issues that stem from the conflicting interests converging within the CCP. It explains that a risk-based approach might solve the flaws of the regime. The risk-based approach might facilitate the process of mutual recognition of CCPs regimes, mitigating the negative effects of extraterritoriality.
