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CCP12 - the Global Association of Central Counterparties publishes the first quarterly Public Quantitative Disclosure (PQD) Global Statistical Bulletin Newsletter.
With this PQD Newsletter, CCP12 presents a panorama of the CCP industry to market participants, relevant authorities and the broader public. The analysis is based on PQD reports published by central counterparties (CCPs) globally under the Principles for Financial Market Infrastructures (PFMI) requirements set by Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions (CPMI-IOSCO).
In 2015, the CPMI-IOSCO published PQD standards for CCPs1 , as an important component of the set of PFMI public disclosure requirements, while also encouraging CCPs to use a common template. CCP12 supports CPMI-IOSCO’s efforts to improve the level of standardization and transparency of the CCP industry; our members collaboratively worked to create a common PQD template in 2015, and officially released the CCP12 PQD Template in 2017.
In this PQD Newsletter, Q1 and Q2 2018 PQD data sets published by CCP12 members are grouped both by the region in which the CCP is located, as well as by the underlying asset classes cleared by the CCP. A number of CCP risk management indicators are examined, including Initial Margin Required, Default Fund Required, Collateral Make-Up of the Initial Margin and Default Fund contributions, and Average Daily Variation Margin. All indicators are measured in US dollar (USD).
“One year ago we published the CCP12 PQD Template and we are delighted, that more and more of our members are using it in order to support the standardization. With the joint effort of the CCP12 members, we now offer this comprehensive PQD Newsletter, representing CCP12's endeavor to further promote the standardization and transparency of the financial market industry.” said Mr. Zhen Xu, Chairman of CCP12.
“The CCP12 PQD Global Statistical Bulletin Newsletter displays key statistics and indicators relating to CCP risk management. With the PQD Newsletter we offer external participants a consolidated view on various figures across different regions and asset classes,” said Marcus Zickwolff, CEO of CCP12.
CCP12 is a global association of 35 members who operate more than 50 individual CCPs globally across Europe/Middle East/Africa (EMEA), the Americas, and the Asia-Pacific (APAC) regions. CCP12 aims to promote effective, practical and appropriate risk management and operational standards for CCPs to ensure the safety and efficiency of the financial markets it represents. CCP12 leads and assesses global regulatory and industry initiatives that concern CCPs to form consensus views, while also actively engaging with regulatory agencies and industry constituents through consultation responses, forum discussions and position papers.
1 CPMI-IOSCO (2015). Public quantitative disclosure standards for central counterparties. [online] Available from: < https://www. bis.org/cpmi/publ/d125.htm >
