FIA has released the first version of its CCP Tracker, a set of online interactive visualisations that provide insights into the financial resources and risk exposures of derivatives clearinghouses.
The association observes that clearinghouses play a key role in ensuring the stability of financial markets by acting as a central counterparty and maintaining financial resources necessary to cover losses from a default. The CCP Tracker is the latest addition to the data resources that FIA makes available through its website as part of its commitment to promoting transparency into derivatives markets.
“Clearinghouses are major components of the financial system and their importance has increased since the 2008 financial crisis. That makes it even more important to ensure that the public has greater transparency into these critical organizations,” says FIA president and CEO Walt Lukken. “Markets work best when they are open, transparent and competitive, and FIA is proud to make more data accessible to market participants and the general public.”
The CCP Tracker covers 10 major clearinghouses in the US, Europe and Japan and displays data on initial margin, default fund resources, margin breaches, stress loss exposures and clearing member concentration. The visualisations cover data related to futures, options and swaps cleared at these CCPs. FIA says it expects to increase the number of clearinghouses and data fields covered by the Tracker in future releases, depending on demand from FIA members and other stakeholders.
“Our goal with the CCP Tracker is to simplify the efforts by clearing members and their customers to understand the risk management practices of the clearinghouses they use,” says Will Acworth, senior vice president of publications, research and data. “By compiling data from CPMI-IOSCO quarterly public quantitative disclosures from 10 major clearinghouses, we are providing a convenient single source for these critically important metrics, and we look forward to adding more clearinghouses and more visualisations in the coming months.”