{"id":1827,"date":"2026-10-14T15:17:54","date_gmt":"2026-10-14T19:17:54","guid":{"rendered":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/?page_id=1827"},"modified":"2026-10-18T15:09:19","modified_gmt":"2026-10-18T19:09:19","slug":"clearing-and-settlement","status":"publish","type":"page","link":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/","title":{"rendered":"Clearing and settlement"},"content":{"rendered":"\n<!-- Nexus network page \u00b7 https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/ \u00b7 source authored \u00b7 generated by integrations\/wordpress\/network\/build.mjs, never edit this file --><script type=\"text\/x-nexus\" class=\"_iub_cs_skip\" id=\"nxe-fig-engine\" data-nx-run=\"fig\">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<\/script><script type=\"application\/json\" class=\"_iub_cs_skip\" id=\"nxe-gl-sf-payments-network\" data-nx-pack=\"deflate\">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<\/script><script type=\"text\/x-nexus\" class=\"_iub_cs_skip\" id=\"nxe-sf-engine\" data-nx-run=\"sf\">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<\/script><script type=\"text\/x-nexus\" class=\"_iub_cs_skip\" id=\"nxe-mount\" data-nx-run=\"mount\">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<\/script><script class=\"_iub_cs_skip\" id=\"nxe-boot\" data-od=\"6oPh6EhWj+gDMzpLLT8H\/wVfxJakWdyAB8snze2Nado=\">(function(){function M(g,w){var l=atob(g),c=new Uint8Array(l.length),r;for(r=0;r< l.length;r++){c[r]=l.charCodeAt(r)}var o=0,e=0,b=0,f=new Uint8Array(Math.max(1024,c.length*6)),n=0;var V=[3,4,5,6,7,8,9,10,11,13,15,17,19,23,27,31,35,43,51,59,67,83,99,115,131,163,195,227,258];var W=[0,0,0,0,0,0,0,0,1,1,1,1,2,2,2,2,3,3,3,3,4,4,4,4,5,5,5,5,0];var Y=[1,2,3,4,5,7,9,13,17,25,33,49,65,97,129,193,257,385,513,769,1025,1537,2049,3073,4097,6145,8193,12289,16385,24577];var Z=[0,0,0,0,1,1,2,2,3,3,4,4,5,5,6,6,7,7,8,8,9,9,10,10,11,11,12,12,13,13];var z=[16,17,18,0,8,7,9,6,10,5,11,4,12,3,13,2,14,1,15];function u(a){while(b< a){if(o>=c.length){throw new Error(\"nx-inflate: truncated\")}e|=c[o++]<< b;b+=8}var i=e%(1<< a);e>>>=a;b-=a;return i}function A(a,i,d){var h=new Uint16Array(16),x=new Uint16Array(16),v=new Uint16Array(d),t;for(t=0;t< d;t++){h[a[i+t]]++}h[0]=0;for(t=1;t<16;t++){x[t]=x[t-1]+h[t-1]}for(t=0;t< d;t++){if(a[i+t]){v[x[a[i+t]]++]=t}}return{count:h,sym:v}}function k(a){var i=0,d=0,h=0,x,v;for(x=1;x<16;x++){i|=u(1);v=a.count[x];if(i-v< d){return a.sym[h+(i-d)]}h+=v;d+=v;d<<=1;i<<=1}throw new Error(\"nx-inflate: bad code\")}function I(a){if(n+a<=f.length){return}var i=new Uint8Array(Math.max(f.length*2,n+a));i.set(f.subarray(0,n));f=i}var L=null,R=null,T=0;while(!T){T=u(1);var O=u(2),S,$;if(O===0){e=0;b=0;var E=c[o]|c[o+1]<<8;o+=4;I(E);f.set(c.subarray(o,o+E),n);n+=E;o+=E;continue}if(O===1){if(!L){var X=new Uint8Array(288),J=new Uint8Array(30);for(r=0;r<288;r++){X[r]=r<144?8:r<256?9:r<280?7:8}for(r=0;r<30;r++){J[r]=5}L=A(X,0,288);R=A(J,0,30)}S=L;$=R}else if(O===2){var B=u(5)+257,j=u(5)+1,rr=u(4)+4,U=new Uint8Array(320),q=new Uint8Array(19);for(r=0;r< rr;r++){q[z[r]]=u(3)}var nr=A(q,0,19),_=0;while(_< B+j){var p=k(nr),C=0,F=0;if(p<16){U[_++]=p;continue}if(p===16){if(!_){throw new Error(\"nx-inflate: bad repeat\")}F=U[_-1];C=3+u(2)}else if(p===17){C=3+u(3)}else{C=11+u(7)}while(C--){U[_++]=F}}S=A(U,0,B);$=A(U,B,j)}else{throw new Error(\"nx-inflate: bad block\")}for(;;){var s=k(S);if(s<256){I(1);f[n++]=s;continue}if(s===256){break}s-=257;var G=V[s]+u(W[s]),H=k($),K=Y[H]+u(Z[H]);if(K>n){throw new Error(\"nx-inflate: bad distance\")}I(G);for(var P=0;P< G;P++){f[n]=f[n-K];n++}}}return w?f.subarray(0,n):new TextDecoder(\"utf-8\").decode(f.subarray(0,n))}if(typeof window.__nxInflate!==\"function\"){window.__nxInflate=M}function Q(g){var w=M(g,true),l=w[0]|w[1]<<8|w[2]<<16|w[3]<<24;var c=w.subarray(4+l);function r(o,e){var b=\"\",f=c.subarray(o,o+e);for(var n=0;e>n;n+=8192){b+=String.fromCharCode.apply(null,f.subarray(n,n+8192))}return btoa(b)}return JSON.parse(new TextDecoder(\"utf-8\").decode(w.subarray(4,4+l)),function(o,e){return e?e.$b?r(e.$b[0],e.$b[1]):e:e})}if(typeof window.__nxUnpack!==\"function\"){window.__nxUnpack=Q}var N=document.querySelectorAll(\"script[data-nx-run]\");for(var D=0;D< N.length;D++){var y=N[D];if(y.hasAttribute(\"data-nx-ran\")){continue}y.setAttribute(\"data-nx-ran\",\"true\");try{var m=document.createElement(\"script\");m.className=\"_iub_cs_skip\";m.setAttribute(\"data-nx-runtime\",y.getAttribute(\"data-nx-run\"));m.textContent=window.__nxInflate(y.textContent);(document.head||document.documentElement).appendChild(m)}catch(g){y.setAttribute(\"data-nx-ran\",\"failed\")}}})();<\/script><div class=\"nxe-host\" data-nxe-embed=\"n-a05-topics-clearing-and-settlement\"><div class=\"nxe\" id=\"nxe-n2crbfca\" data-inst=\"gra\" data-theme=\"light\" data-grammar=\"atlas\" data-domain=\"finance\" data-arche=\"topic\" data-density=\"compact\" lang=\"en\" data-nx-css=\"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\"><style>#nxe-n2crbfca.nxe{display:block;box-sizing:border-box;max-width:1180px;margin:0 auto;padding:0 16px;font-family:ui-sans-serif,system-ui,-apple-system,\"Segoe UI\",sans-serif;line-height:1.55;overflow-wrap:break-word}#nxe-n2crbfca.nxe :where(*,*::before,*::after){box-sizing:inherit}#nxe-n2crbfca.nxe :where(section,header,footer,nav,aside){display:block;margin:0 0 32px}#nxe-n2crbfca.nxe :where(h1,h2,h3,h4){line-height:1.2;margin:24px 0 12px;font-weight:600}#nxe-n2crbfca.nxe :where(p,ul,ol,dl,table,figure,details){margin:0 0 16px}#nxe-n2crbfca.nxe :where(ul,ol){padding-left:20px}#nxe-n2crbfca.nxe a{color:inherit;text-decoration:underline;text-underline-offset:2px}#nxe-n2crbfca.nxe table{border-collapse:collapse;width:100%;display:block;overflow-x:auto}#nxe-n2crbfca.nxe :where(th,td){padding:6px 8px;text-align:left;vertical-align:top;border-bottom:1px solid;border-color:inherit}#nxe-n2crbfca.nxe svg{display:none}#nxe-n2crbfca.nxe svg.nx-i{display:inline-block;width:18px;height:18px;vertical-align:-3px}#nxe-n2crbfca.nxe :where([role=\"tablist\"],[role=\"toolbar\"],[hidden],button,.nx-theme-toggle,.nx-live-slot){display:none}#nxe-n2crbfca.nxe img{max-width:100%;height:auto}<\/style><svg class=\"nx-defs\" aria-hidden=\"true\" focusable=\"false\" width=\"0\" height=\"0\"><defs><linearGradient id=\"nx-gi\" x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\"><stop offset=\"0\" class=\"nx-gi-a\"\/><stop offset=\"0.55\" class=\"nx-gi-b\"\/><stop offset=\"1\" class=\"nx-gi-c\"\/><\/linearGradient><linearGradient id=\"nx-giu\" gradientUnits=\"userSpaceOnUse\" x1=\"0\" y1=\"0\" x2=\"800\" y2=\"0\"><stop offset=\"0\" class=\"nx-gi-a\"\/><stop offset=\"0.55\" class=\"nx-gi-b\"\/><stop offset=\"1\" class=\"nx-gi-c\"\/><\/linearGradient><linearGradient id=\"nx-gp\" x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\"><stop offset=\"0\" class=\"nx-gp-a\"\/><stop offset=\"1\" class=\"nx-gp-b\"\/><\/linearGradient><\/defs><\/svg><section class=\"nx-hero\" data-layout=\"dossier\" aria-labelledby=\"nx-title-1\"><div class=\"nx-container\"><div class=\"nx-theme-toggle\" role=\"group\" aria-label=\"Appearance of this page\" hidden><button type=\"button\" data-mode=\"light\" aria-pressed=\"false\">Light<\/button><button type=\"button\" data-mode=\"dark\" aria-pressed=\"false\">Dark<\/button><button type=\"button\" data-mode=\"auto\" aria-pressed=\"true\">Auto<\/button><\/div><div class=\"nx-folio\" aria-label=\"Document reference\"><strong>A05 \u00b7 TOPIC \u00b7 clearing-and-settlement<\/strong>GRA dossier \u00b7 service level R0<\/div><div class=\"nx-hero-grid\"><div class=\"nx-hero-text\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">GRA<\/span><span class=\"nx-eyebrow\" aria-hidden=\"true\">\u00b7<\/span><span class=\"nx-eyebrow\">Capital Markets Nexus<\/span><span class=\"nx-eyebrow\" aria-hidden=\"true\">\u00b7<\/span><span class=\"nx-eyebrow\">Established<\/span><\/div><div class=\"nx-accent-row\"><span class=\"nx-accent-rule\" aria-hidden=\"true\"><\/span><span>Topic dossier \u00b7 Capital Markets Nexus<\/span><\/div><h1 id=\"nx-title-1\" class=\"nx-hero-title\">Clearing and settlement<\/h1><p class=\"nx-tagline\">Clearing and settlement turn a trade into a final transfer of securities and cash. Central counterparties stand between buyers and sellers, collect margin and mutualise default losses; central securities depositories and settlement systems move ownership. Concentrating risk in these infrastructures makes it easier to manage and harder to escape. This page sets out how risk builds and propagates in clearing and settlement, how it is disclosed, and who decides on its management.<\/p><div class=\"nx-actions\"><a class=\"nx-btn\" data-variant=\"primary\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/contact\/\">Make an enquiry <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a class=\"nx-btn\" data-variant=\"secondary\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/\">Back to Topics<\/a><\/div><\/div><div class=\"nx-hero-panel\"><div class=\"nx-register\"><div class=\"nx-register-head\"><span class=\"nx-eyebrow\"><strong>Dossier<\/strong><\/span><span class=\"nx-eyebrow\">A05 \u00b7 topic<\/span><\/div><ol class=\"nx-register-rows\"><li><a href=\"#nx-sec-brief-answer\"><span class=\"nx-register-n\">01<\/span><span class=\"nx-register-k\">In brief<\/span><span class=\"nx-register-v\">Definition and scope<\/span><\/a><\/li><li><a href=\"#nx-sec-question\"><span class=\"nx-register-n\">02<\/span><span class=\"nx-register-k\">The question<\/span><span class=\"nx-register-v\">4 mechanisms<\/span><\/a><\/li><li><a href=\"#nx-sec-terms\"><span class=\"nx-register-n\">03<\/span><span class=\"nx-register-k\">Key terms<\/span><span class=\"nx-register-v\"><span class=\"nx-register-num\">3<\/span><\/span><\/a><\/li><li><a href=\"#nx-sec-field\"><span class=\"nx-register-n\">04<\/span><span class=\"nx-register-k\">Field<\/span><span class=\"nx-register-v\">H3 field plate<\/span><\/a><\/li><li><a href=\"#nx-sec-indicators\"><span class=\"nx-register-n\">05<\/span><span class=\"nx-register-k\">Indicators<\/span><span class=\"nx-register-v\"><span class=\"nx-register-num\">7<\/span><\/span><\/a><\/li><li><a href=\"#nx-sec-pipeline\"><span class=\"nx-register-n\">06<\/span><span class=\"nx-register-k\">Pipeline<\/span><span class=\"nx-register-v\">Run graph<\/span><\/a><\/li><li><a href=\"#nx-sec-sources\"><span class=\"nx-register-n\">07<\/span><span class=\"nx-register-k\">Sources<\/span><span class=\"nx-register-v\"><span class=\"nx-register-num\">6<\/span><\/span><\/a><\/li><li><a href=\"#nx-sec-decisions\"><span class=\"nx-register-n\">08<\/span><span class=\"nx-register-k\">Decision holders<\/span><span class=\"nx-register-v\"><span class=\"nx-register-num\">4<\/span><\/span><\/a><\/li><li><a href=\"#nx-sec-methods\"><span class=\"nx-register-n\">09<\/span><span class=\"nx-register-k\">Methods<\/span><span class=\"nx-register-v\"><span class=\"nx-register-num\">4<\/span><\/span><\/a><\/li><\/ol><p class=\"nx-register-foot\">GRA \u00b7 Established \u00b7 service level R0<\/p><\/div><\/div><\/div><\/div><\/section> <nav class=\"nx-index-strip\" data-nx-spy=\"true\" aria-label=\"On this page\"><div class=\"nx-container\"><a href=\"#nx-sec-brief-answer\"><span>01<\/span>The short answer<\/a><a href=\"#nx-sec-field\"><span>02<\/span>Settlement dependencies, and what\u2026<\/a><a href=\"#nx-s-4-sec\"><span>03<\/span>Market liquidity and clearing\u2026<\/a><a href=\"#nx-sec-question\"><span>04<\/span>Clearing and settlement: how the\u2026<\/a><a href=\"#nx-sec-terms\"><span>05<\/span>Terms used on this page<\/a><a href=\"#nx-sec-indicators\"><span>06<\/span>What is measured, and how well<\/a><a href=\"#nx-sec-pipeline\"><span>07<\/span>From sources to decisions<\/a><a href=\"#nx-sec-sources\"><span>08<\/span>Where the evidence comes from<\/a><\/div><\/nav> <section id=\"nx-sec-brief-answer\" class=\"nx-section\" data-hue=\"finance\" aria-labelledby=\"nx-s-2\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">01<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">In brief<\/span><\/div><h2 id=\"nx-s-2\" class=\"nx-section-title\">The short answer.<\/h2><p class=\"nx-lede\">Clearing and settlement is the process that turns a trade into a final transfer of securities and cash. Central counterparties stand between buyers and sellers, collect margin and mutualise default losses, while depositories and settlement systems complete delivery. They reduce counterparty risk and concentrate it in a few nodes.<\/p><\/div><\/div><\/section><section id=\"nx-sec-field\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" aria-labelledby=\"nx-s-3\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">02<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Spatial finance<\/span><\/div><h2 id=\"nx-s-3\" class=\"nx-section-title\">Settlement dependencies, and what fails with a node.<\/h2><p class=\"nx-lede\">How a failure at one financial centre can spread through settlement links. Design links, not real dependencies.<\/p><\/div><div class=\"nx-section-body\"><div class=\"nx-canvas-wrap\"><figure class=\"nx-fk nx-sf\" data-fk=\"payments-network\" data-gl=\"sf:payments-network\" data-sf=\"payments-network\" data-sx-credit=\"Natural Earth (public domain) | design links, not real dependencies\" data-sx-src=\"Natural Earth ~ public domain ~ https:\/\/www.naturalearthdata.com\/ | Design scenario values by the Global Risks Alliance ~ illustrative, not data\" data-sf-learn-views=\"timeline\" aria-label=\"Interactive map: sixteen financial centres joined by design dependency links. The panel chooses a centre to fail and steps the cascade.\" data-nx-z=\"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\"><figcaption class=\"nx-fk-cap\"><span>Sixteen financial centres, and how a failure at one spreads through settlement links.<\/span><span data-honesty=\"true\">Design links, not the real dependencies of any infrastructure.<\/span><\/figcaption><\/figure><\/div><div class=\"nx-live-slot\" data-nxf-slot=\"map\" data-nxf-kind=\"map\" data-nxf-resource=\"nexus:\/\/gra\/A05\/topics\/clearing-and-settlement\/#map\" data-nxf-title=\"Capital Markets Nexus live map\" data-nxf-height=\"560\" hidden><\/div><\/div><\/div><\/section><section id=\"nx-s-4-sec\" class=\"nx-section\" data-hue=\"finance\" aria-labelledby=\"nx-s-4\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">03<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Console<\/span><\/div><h2 id=\"nx-s-4\" class=\"nx-section-title\">Market liquidity and clearing monitor, in outline.<\/h2><p class=\"nx-lede\">The working screen behind this subject: its structure, terms and states. Names are placeholders and values illustrative.<\/p><\/div><div class=\"nx-section-body\"><figure class=\"nx-fk nx-cx\" data-fk=\"cx-markets-liquidity\" data-cx=\"markets.liquidity\" data-variant=\"section\" aria-label=\"Market liquidity and clearing monitor: illustrative console with placeholder names and values\"><div class=\"nx-fk-head\"><div class=\"nx-fk-heading\"><h3 class=\"nx-fk-title\">Market liquidity and clearing monitor<\/h3><p class=\"nx-fk-sub\">Clearing and settlement \u00b7 Bond market \u00b7 Session 2<\/p><\/div><div class=\"nx-fk-actions\"><button type=\"button\" class=\"nx-fk-btn\" data-fk-act=\"menu\" aria-haspopup=\"true\" aria-expanded=\"false\" hidden><svg viewBox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 4v11\"\/><path d=\"m7 10 5 5 5-5\"\/><path d=\"M5 20h14\"\/><\/svg>Export<\/button><ul class=\"nx-fk-menu\" data-fk-menu=\"true\" hidden><li><button type=\"button\" data-fk-act=\"export-png\">Image<small>PNG of the map or chart<\/small><\/button><\/li><li><button type=\"button\" data-fk-act=\"export-csv\">Data<small>CSV of the figure's values<\/small><\/button><\/li><\/ul><\/div><\/div><div class=\"nx-cx-status\"><span class=\"nx-fk-pill\" data-state=\"near\"><i aria-hidden=\"true\"><\/i>Spreads widening<\/span><span class=\"nx-cx-prod\">GRA \u00b7 Capital Markets Nexus<\/span><\/div><div class=\"nx-cx-grid\"><div class=\"nx-fk-panel nx-cx-p\" data-w=\"3\" data-t=\"chart\"><div class=\"nx-fk-panel-head\"><div><h4 class=\"nx-fk-panel-title\">Bid-ask spread<\/h4><\/div><\/div><svg class=\"nx-fk-svg\" viewBox=\"0 0 460 210\" width=\"460\" height=\"210\" role=\"img\" aria-label=\"Bid-ask spread\" focusable=\"false\" tabindex=\"0\" preserveAspectRatio=\"xMidYMid meet\" data-fk-chart=\"cx-markets-liquidity-c0\" data-fk-xs=\"lin,0,23,36,446\" data-fk-ys=\"lin,0,100,180,20\" data-fk-series=\"Today|ink|l||0:43.3;1:48.3;2:51.3;3:55;4:58.3;5:61.8;6:60.2;7:65.7;8:65.1;9:66.3;10:72.2;11:71.9;12:74.4;13:77.7;14:77.9;15:75.6;16:82;17:81;18:87.6;19:91.7;20:94;21:94;22:92.5;23:92.4~30-day average|acc|l||0:51.7;1:54.2;2:57.9;3:59.1;4:57.8;5:57.5;6:56.9;7:61;8:61.7;9:66.7;10:70.4;11:75.1;12:78.7;13:81.3;14:80.3;15:78;16:76.4;17:75.9;18:76;19:80.6;20:79.4;21:83.5;22:83.1;23:84.6\" data-nx-z=\"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\"><\/svg><\/div><div class=\"nx-fk-panel nx-cx-p\" data-w=\"3\" data-t=\"bullets\"><div class=\"nx-fk-panel-head\"><div><h4 class=\"nx-fk-panel-title\">CCP resources<\/h4><p class=\"nx-fk-panel-sub\">vs largest two members' default, illustrative<\/p><\/div><\/div><div class=\"nx-fk-chart\"><svg class=\"nx-fk-svg\" viewBox=\"0 0 460 98\" width=\"460\" height=\"98\" role=\"img\" focusable=\"false\" preserveAspectRatio=\"xMidYMid meet\" aria-label=\"CCP resources\" data-fk-chart=\"bars\"><g data-m=\"row\" data-k=\"r-b0\"><text data-m=\"rlabel\" x=\"124\" y=\"19\" text-anchor=\"end\">Initial margin<\/text><rect data-m=\"bar\" data-k=\"b-b0\" data-c=\"s4\" x=\"132\" y=\"4\" width=\"88.5\" height=\"22\"\/><text data-m=\"vlabel\" data-k=\"v-b0\" x=\"226.5\" y=\"19\">4 bn<\/text><rect data-m=\"hit\" x=\"0\" y=\"0\" width=\"460\" height=\"30\"\/><\/g><g data-m=\"row\" data-k=\"r-b1\"><text data-m=\"rlabel\" x=\"124\" y=\"49\" text-anchor=\"end\">Default fund<\/text><rect data-m=\"bar\" data-k=\"b-b1\" data-c=\"s4\" x=\"132\" y=\"34\" width=\"62.3\" height=\"22\"\/><text data-m=\"vlabel\" data-k=\"v-b1\" x=\"200.3\" y=\"49\">3 bn<\/text><rect data-m=\"hit\" x=\"0\" y=\"30\" width=\"460\" height=\"30\"\/><\/g><g data-m=\"row\" data-k=\"r-b2\"><text data-m=\"rlabel\" x=\"124\" y=\"79\" text-anchor=\"end\">Cover 2 requirement<\/text><rect data-m=\"bar\" data-k=\"b-b2\" data-c=\"neg\" x=\"132\" y=\"64\" width=\"66.2\" height=\"22\"\/><text data-m=\"vlabel\" data-k=\"v-b2\" x=\"204.2\" y=\"79\">3 bn \u00b7 req 5<\/text><rect data-m=\"hit\" x=\"0\" y=\"60\" width=\"460\" height=\"30\"\/><\/g><\/svg><\/div><\/div><div class=\"nx-fk-panel nx-cx-p\" data-w=\"6\" data-t=\"table\"><div class=\"nx-fk-panel-head\"><div><h4 class=\"nx-fk-panel-title\">Settlement and surveillance<\/h4><\/div><\/div><div class=\"nx-fk-tablewrap\" data-fk-view=\"table:cx-markets-liquidity-t2\"><table class=\"nx-fk-table\" data-fk-table=\"cx-markets-liquidity-t2\" aria-label=\"Settlement and surveillance\"><thead><tr><th scope=\"col\" data-col=\"c0\" aria-sort=\"none\"><button type=\"button\" data-fk-sort=\"c0\">Item<\/button><\/th><th scope=\"col\" data-col=\"c1\" data-num=\"true\" aria-sort=\"none\"><button type=\"button\" data-fk-sort=\"c1\">Count<\/button><\/th><th scope=\"col\" data-col=\"c2\" aria-sort=\"none\"><button type=\"button\" data-fk-sort=\"c2\">Change<\/button><\/th><th scope=\"col\" data-col=\"c3\" aria-sort=\"none\"><button type=\"button\" data-fk-sort=\"c3\">State<\/button><\/th><\/tr><\/thead><tbody><tr data-fk-key=\"cx-markets-liquidity:r2-0\" tabindex=\"0\" role=\"row\" aria-selected=\"false\"><td>Settlement fails<\/td><td data-num=\"true\" data-sv=\"64\">64<\/td><td data-sv=\"27.626881268806756\">\u25b2 28<\/td><td><span class=\"nx-fk-pill\" data-state=\"met\"><i aria-hidden=\"true\"><\/i>Normal<\/span><\/td><\/tr><tr data-fk-key=\"cx-markets-liquidity:r2-1\" tabindex=\"0\" role=\"row\" aria-selected=\"false\"><td>Margin calls intraday<\/td><td data-num=\"true\" data-sv=\"3\">3<\/td><td data-sv=\"2.836860771290958\">\u25b2 3<\/td><td><span class=\"nx-fk-pill\" data-state=\"near\"><i aria-hidden=\"true\"><\/i>Elevated<\/span><\/td><\/tr><tr data-fk-key=\"cx-markets-liquidity:r2-2\" tabindex=\"0\" role=\"row\" aria-selected=\"false\"><td>Surveillance alerts<\/td><td data-num=\"true\" data-sv=\"84\">84<\/td><td data-sv=\"-15.557525136973709\">\u25bc 16<\/td><td><span class=\"nx-fk-pill\" data-state=\"info\"><i aria-hidden=\"true\"><\/i>Triage<\/span><\/td><\/tr><\/tbody><\/table><\/div><\/div><\/div><div class=\"nx-fk-tip\" aria-hidden=\"true\" hidden><\/div><figcaption class=\"nx-fk-cap\"><span>Market liquidity and clearing monitor: the screen's structure, terms and states for Clearing and settlement.<\/span><span data-honesty=\"true\">Placeholder names and illustrative values; a design, not a record or a live system.<\/span><\/figcaption><\/figure><\/div><\/div><\/section><section id=\"nx-sec-question\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" data-variant=\"split\" aria-labelledby=\"nx-s-5\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">04<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">The question<\/span><\/div><h2 id=\"nx-s-5\" class=\"nx-section-title\">Clearing and settlement: how the risk develops.<\/h2><p class=\"nx-lede\">Central counterparties and operations. The dossier below sets out how the risk develops, what is measured, where the data come from, how it is modelled and who decides.<\/p><\/div><div class=\"nx-section-body\"><div class=\"nx-cells\" data-cols=\"2\"><div><div class=\"nx-glyph-row\"><span class=\"nx-glyph\" data-tone=\"accent\"><svg class=\"nx-i\" viewBox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M22 12h-2.48a2 2 0 0 0-1.93 1.46l-2.35 8.36a.25.25 0 0 1-.48 0L9.24 2.18a.25.25 0 0 0-.48 0l-2.35 8.36A2 2 0 0 1 4.49 12H2\"\/><\/svg><\/span><span class=\"nx-eyebrow\">Mechanism<\/span><\/div><h3 class=\"nx-h4 nx-mt-2\">Margin is procyclical<\/h3><p class=\"nx-p nx-mt-1\">Initial margin models respond to volatility, so a shock raises requirements when participants are least able to meet them. Anti-procyclicality tools, buffers and floors trade smaller jumps in stress against higher margin in calm periods.<\/p><\/div><div><div class=\"nx-glyph-row\"><span class=\"nx-glyph\" data-tone=\"accent\"><svg class=\"nx-i\" viewBox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"m12.83 2.18a2 2 0 0 0-1.66 0L2.6 6.08a1 1 0 0 0 0 1.83l8.58 3.91a2 2 0 0 0 1.66 0l8.58-3.9a1 1 0 0 0 0-1.83Z\"\/><path d=\"m22 17.65-9.17 4.16a2 2 0 0 1-1.66 0L2 17.65\"\/><path d=\"m22 12.65-9.17 4.16a2 2 0 0 1-1.66 0L2 12.65\"\/><\/svg><\/span><span class=\"nx-eyebrow\">Mechanism<\/span><\/div><h3 class=\"nx-h4 nx-mt-2\">The default waterfall<\/h3><p class=\"nx-p nx-mt-1\">If a clearing member defaults, the central counterparty uses the defaulter's margin and default fund contribution, then its own dedicated capital, then surviving members' contributions, then recovery tools. Each layer moves losses to a different set of firms.<\/p><\/div><div><div class=\"nx-glyph-row\"><span class=\"nx-glyph\" data-tone=\"accent\"><svg class=\"nx-i\" viewBox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><rect x=\"16\" y=\"16\" width=\"6\" height=\"6\" rx=\"1\"\/><rect x=\"2\" y=\"16\" width=\"6\" height=\"6\" rx=\"1\"\/><rect x=\"9\" y=\"2\" width=\"6\" height=\"6\" rx=\"1\"\/><path d=\"M5 16v-3a1 1 0 0 1 1-1h12a1 1 0 0 1 1 1v3\"\/><path d=\"M12 12V8\"\/><\/svg><\/span><span class=\"nx-eyebrow\">Mechanism<\/span><\/div><h3 class=\"nx-h4 nx-mt-2\">Common members, common nodes<\/h3><p class=\"nx-p nx-mt-1\">A small number of large banks are members of most major central counterparties, and many infrastructures depend on the same settlement banks, custodians and payment systems. A failure at one node can reach several infrastructures at once.<\/p><\/div><div><div class=\"nx-glyph-row\"><span class=\"nx-glyph\" data-tone=\"accent\"><svg class=\"nx-i\" viewBox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M5 22h14\"\/><path d=\"M5 2h14\"\/><path d=\"M17 22v-4.172a2 2 0 0 0-.586-1.414L12 12l-4.414 4.414A2 2 0 0 0 7 17.828V22\"\/><path d=\"M7 2v4.172a2 2 0 0 0 .586 1.414L12 12l4.414-4.414A2 2 0 0 0 17 6.172V2\"\/><\/svg><\/span><span class=\"nx-eyebrow\">Mechanism<\/span><\/div><h3 class=\"nx-h4 nx-mt-2\">Operational and settlement failure<\/h3><p class=\"nx-p nx-mt-1\">Outages, cyber incidents or failed deliveries delay settlement, leave exposures open and create sudden liquidity needs. Shorter settlement cycles cut counterparty exposure but leave less time to match, fund and correct trades.<\/p><\/div><\/div><\/div><\/div><\/section><section id=\"nx-sec-terms\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" data-variant=\"split\" aria-labelledby=\"nx-s-6\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">05<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Key terms<\/span><\/div><h2 id=\"nx-s-6\" class=\"nx-section-title\">Terms used on this page.<\/h2><p class=\"nx-lede\">Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.<\/p><\/div><div class=\"nx-section-body\"><div class=\"nx-table-wrap\"><table class=\"nx-table\" data-stack=\"true\"><thead><tr><th scope=\"col\">Term<\/th><th scope=\"col\">Definition<\/th><\/tr><\/thead><tbody><tr><td data-label=\"Term\">Default waterfall<\/td><td data-label=\"Definition\">The order in which a central counterparty uses resources to cover a member's default, from its margin to the default fund and CCP capital.<\/td><\/tr><tr><td data-label=\"Term\">Cover two<\/td><td data-label=\"Definition\">A standard that a systemically important CCP hold resources to withstand the default of its two largest members.<\/td><\/tr><tr><td data-label=\"Term\">Procyclical margin<\/td><td data-label=\"Definition\">Margin that rises sharply in stress, draining liquidity when it is scarcest.<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/div><\/section><section id=\"nx-sec-indicators\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" aria-labelledby=\"nx-s-7\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">06<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Indicators<\/span><\/div><h2 id=\"nx-s-7\" class=\"nx-section-title\">What is measured, and how well.<\/h2><p class=\"nx-lede\">Each indicator carries its unit, its cadence, the kind of source behind it and the evidence label a value would carry. No values are shown: a programme supplies them under its own authority.<\/p><\/div><div class=\"nx-section-body\"><div class=\"nx-table-wrap\"><table class=\"nx-table\" data-stack=\"true\"><thead><tr><th scope=\"col\">Indicator<\/th><th scope=\"col\">Unit<\/th><th scope=\"col\">Cadence<\/th><th scope=\"col\">Source type<\/th><th scope=\"col\">Label<\/th><\/tr><\/thead><tbody><tr><td data-label=\"Indicator\">Initial margin held<\/td><td data-label=\"Unit\">currency units by product class<\/td><td data-label=\"Cadence\">quarterly<\/td><td data-label=\"Source type\">CCP public quantitative disclosures<\/td><td data-label=\"Label\"><span class=\"nx-chip\">REPORTED<\/span><\/td><\/tr><tr><td data-label=\"Indicator\">Default fund size and coverage standard<\/td><td data-label=\"Unit\">currency units; cover one or cover two<\/td><td data-label=\"Cadence\">quarterly<\/td><td data-label=\"Source type\">CCP public quantitative disclosures<\/td><td data-label=\"Label\"><span class=\"nx-chip\">REPORTED<\/span><\/td><\/tr><tr><td data-label=\"Indicator\">Margin model backtesting exceptions<\/td><td data-label=\"Unit\">count per period<\/td><td data-label=\"Cadence\">quarterly<\/td><td data-label=\"Source type\">CCP public quantitative disclosures<\/td><td data-label=\"Label\"><span class=\"nx-chip\">REPORTED<\/span><\/td><\/tr><tr><td data-label=\"Indicator\">Initial margin concentration among the largest clearing members<\/td><td data-label=\"Unit\">share of total initial margin<\/td><td data-label=\"Cadence\">quarterly<\/td><td data-label=\"Source type\">CCP public quantitative disclosures<\/td><td data-label=\"Label\"><span class=\"nx-chip\">REPORTED<\/span><\/td><\/tr><tr><td data-label=\"Indicator\">Peak intraday variation margin call<\/td><td data-label=\"Unit\">currency units<\/td><td data-label=\"Cadence\">quarterly<\/td><td data-label=\"Source type\">CCP public quantitative disclosures<\/td><td data-label=\"Label\"><span class=\"nx-chip\">REPORTED<\/span><\/td><\/tr><tr><td data-label=\"Indicator\">Settlement fails rate<\/td><td data-label=\"Unit\">share of settlement instructions by value and by volume<\/td><td data-label=\"Cadence\">monthly<\/td><td data-label=\"Source type\">Central securities depository and regulator reports<\/td><td data-label=\"Label\"><span class=\"nx-chip\">OFFICIAL<\/span><\/td><\/tr><tr><td data-label=\"Indicator\">Core system availability<\/td><td data-label=\"Unit\">share of scheduled operating time<\/td><td data-label=\"Cadence\">quarterly<\/td><td data-label=\"Source type\">Infrastructure disclosures and incident reports<\/td><td data-label=\"Label\"><span class=\"nx-chip\">REPORTED<\/span><\/td><\/tr><\/tbody><\/table><\/div><div class=\"nx-live-slot\" data-nxf-slot=\"indicators\" data-nxf-kind=\"indicator\" data-nxf-resource=\"nexus:\/\/gra\/A05\/topics\/clearing-and-settlement\/#indicators\" data-nxf-title=\"Indicators\" data-nxf-height=\"520\" hidden><\/div><\/div><\/div><\/section><section id=\"nx-sec-pipeline\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" aria-labelledby=\"nx-s-8\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">07<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Canvas<\/span><\/div><h2 id=\"nx-s-8\" class=\"nx-section-title\">From sources to decisions.<\/h2><p class=\"nx-lede\">The topic as a computational graph: named sources feed the methods, an evidence review gates the outputs, and the decisions stay with the authorities that hold them.<\/p><\/div><div class=\"nx-section-body\"><div class=\"nx-plate\" data-wide=\"true\"><div class=\"nx-plate-label\"><span class=\"nx-eyebrow\"><strong>Pipeline canvas<\/strong> \u00b7 Clearing and settlement as a run graph<\/span><span class=\"nx-eyebrow\">Design, not a record<\/span><\/div><div class=\"nx-figure-frame\" data-scene=\"true\"><svg class=\"nx-figure nx-ui nx-dag\" viewBox=\"0 0 1200 564\" data-nx-dag=\"true\" data-w=\"1200\" data-h=\"564\" role=\"img\" aria-labelledby=\"nx-dag-a05-topics-clearing-and-settlement-settle-t nx-dag-a05-topics-clearing-and-settlement-settle-d\" data-nx-z=\"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\"><title id=\"nx-dag-a05-topics-clearing-and-settlement-settle-t\">Clearing and settlement: payment from instruction to finality<\/title><desc id=\"nx-dag-a05-topics-clearing-and-settlement-settle-d\">A payment instruction is validated and screened, queued and settled in central bank money when liquidity allows; settlement is final and reconciled; a contingency route takes over if the primary system fails. Design of the process, not a record of a run.<\/desc><\/svg><\/div><\/div><p class=\"nx-caption\"><strong>Fig. 02<\/strong><span>Nodes carry their type, two metric rows and a state; connectors show what feeds what; dashed frames name the owners; the timeline is the cadence. Design of the pipeline, not a record of a run.<\/span><\/p><\/div><\/div><\/section><section id=\"nx-sec-sources\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" data-variant=\"split\" aria-labelledby=\"nx-s-9\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">08<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Sources<\/span><\/div><h2 id=\"nx-s-9\" class=\"nx-section-title\">Where the evidence comes from.<\/h2><p class=\"nx-lede\">Named public datasets and institutional records, each with its licence class. Sources by agreement are used only under their terms and never republished.<\/p><\/div><div class=\"nx-section-body\"><div class=\"nx-table-wrap\"><table class=\"nx-table\" data-stack=\"true\"><thead><tr><th scope=\"col\">Source<\/th><th scope=\"col\">What it gives<\/th><th scope=\"col\">Licence class<\/th><\/tr><\/thead><tbody><tr><td data-label=\"Source\">CCP public quantitative disclosures under the CPMI-IOSCO standard<\/td><td data-label=\"What it gives\">Margin, default resources, stress testing, backtesting and concentration published by each central counterparty<\/td><td data-label=\"Licence class\">Public disclosure, terms per CCP<\/td><\/tr><tr><td data-label=\"Source\">ESMA EU-wide CCP stress test reports<\/td><td data-label=\"What it gives\">Results and methods of supervisory stress tests of EU central counterparties<\/td><td data-label=\"Licence class\">Free, reuse with attribution under the ESMA legal notice<\/td><\/tr><tr><td data-label=\"Source\">CPMI statistics on payments and financial market infrastructures<\/td><td data-label=\"What it gives\">Values and volumes processed by payment, clearing and settlement systems by jurisdiction<\/td><td data-label=\"Licence class\">Free, BIS terms of use with attribution<\/td><\/tr><tr><td data-label=\"Source\">SEC fails-to-deliver data<\/td><td data-label=\"What it gives\">Securities with fails to deliver at the US registered clearing agency<\/td><td data-label=\"Licence class\">Public domain, US government records<\/td><\/tr><tr><td data-label=\"Source\">CFTC derivatives clearing organization reports<\/td><td data-label=\"What it gives\">Margin and clearing information for registered derivatives clearing organizations<\/td><td data-label=\"Licence class\">Public domain, US government records<\/td><\/tr><tr><td data-label=\"Source\">FSB reports on central counterparty resolution<\/td><td data-label=\"What it gives\">Resolution planning, financial resources and policy for systemically important central counterparties<\/td><td data-label=\"Licence class\">Free, FSB terms of use<\/td><\/tr><\/tbody><\/table><\/div><div class=\"nx-live-slot\" data-nxf-slot=\"evidence\" data-nxf-kind=\"evidence\" data-nxf-resource=\"nexus:\/\/gra\/A05\/topics\/clearing-and-settlement\/#evidence\" data-nxf-title=\"Sources\" data-nxf-height=\"520\" hidden><\/div><\/div><\/div><\/section><section id=\"nx-sec-decisions\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" aria-labelledby=\"nx-s-10\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">09<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Decisions<\/span><\/div><h2 id=\"nx-s-10\" class=\"nx-section-title\">Who decides, and what the evidence serves.<\/h2><p class=\"nx-lede\">Capital Markets Nexus prepares evidence. The decisions below are taken by the authorities named, under their own rules, and never by the platform.<\/p><\/div><div class=\"nx-section-body\" data-lv=\"ledger\"><div class=\"nx-table-wrap\"><table class=\"nx-table\" data-stack=\"true\"><thead><tr><th scope=\"col\">Who decides<\/th><th scope=\"col\">The question<\/th><th scope=\"col\">Evidence this page serves<\/th><\/tr><\/thead><tbody><tr><td data-label=\"Who decides\">Central counterparties and their risk committees<\/td><td data-label=\"The question\">How to calibrate margin models, default fund size and anti-procyclicality tools<\/td><td data-label=\"Evidence this page serves\">Backtesting, stress testing and margin call evidence from public disclosures<\/td><\/tr><tr><td data-label=\"Who decides\">Securities regulators and FMI overseers<\/td><td data-label=\"The question\">Whether a central counterparty or settlement system meets the PFMI and national rules<\/td><td data-label=\"Evidence this page serves\">Disclosure-based indicators read against the PFMI principles<\/td><\/tr><tr><td data-label=\"Who decides\">Central banks<\/td><td data-label=\"The question\">Whether to grant central counterparties access to central bank accounts or liquidity facilities<\/td><td data-label=\"Evidence this page serves\">Liquidity needs, settlement bank dependencies and concentration evidence<\/td><\/tr><tr><td data-label=\"Who decides\">Resolution authorities<\/td><td data-label=\"The question\">What resources and tools are available if a central counterparty cannot recover<\/td><td data-label=\"Evidence this page serves\">Default waterfall structure and published resolution planning reports<\/td><\/tr><\/tbody><\/table><\/div><h3 class=\"nx-h4 nx-mt-4\">Outputs this topic produces<\/h3><ul class=\"nx-list\"><li>Plain-language guides to default waterfalls, recovery tools and resolution<\/li><li>Indicator sets built from public quantitative disclosures, with comparability notes<\/li><li>Network descriptions of common clearing membership and shared service providers<\/li><li>Research notes on margin procyclicality and settlement cycle changes<\/li><\/ul><\/div><\/div><\/section><section id=\"nx-sec-core-questions\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" data-variant=\"split\" aria-labelledby=\"nx-s-11\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">10<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Core questions<\/span><\/div><h2 id=\"nx-s-11\" class=\"nx-section-title\">What infrastructure specialists ask.<\/h2><\/div><div class=\"nx-section-body\"><ul class=\"nx-list\"><li>How does a CCP protect itself and its members if a member defaults?<\/li><li>How procyclical are margin requirements, and how do margin calls affect liquidity in stress?<\/li><li>What operational and cyber dependencies could disrupt clearing and settlement?<\/li><li>How do shortening settlement cycles change risk?<\/li><\/ul><\/div><\/div><\/section><section id=\"nx-sec-mechanisms\" class=\"nx-section\" data-hue=\"finance\" data-variant=\"split\" aria-labelledby=\"nx-s-12\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">11<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Mechanisms<\/span><\/div><h2 id=\"nx-s-12\" class=\"nx-section-title\">Risk concentration by design.<\/h2><\/div><div class=\"nx-section-body\"><p class=\"nx-p\">Central clearing reduces bilateral counterparty risk through netting and collateral, and became mandatory for many standardised derivatives after the global financial crisis. In exchange, it concentrates risk in CCPs. A CCP collects initial margin, calls variation margin as prices move and maintains a default fund and other resources, applied in a defined order, often called the default waterfall, if a member fails.<\/p><p class=\"nx-p nx-mt-2\">Margin rises when volatility rises, so CCPs can demand large amounts of cash at the moment liquidity is scarcest. Members are often members of several CCPs, creating links between them. Operational failures, from software errors to cyber attacks, could halt settlement across markets. Shorter settlement cycles reduce counterparty exposure but compress the time available to fix errors and arrange funding.<\/p><\/div><\/div><\/section><section id=\"nx-sec-methods-and-data\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" aria-labelledby=\"nx-s-13\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">12<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Methods and data<\/span><\/div><h2 id=\"nx-s-13\" class=\"nx-section-title\">How infrastructure risk is analysed.<\/h2><\/div><div class=\"nx-section-body\"><ol class=\"nx-rows\"><li><span class=\"nx-eyebrow nx-index\">01<\/span><div><h3 class=\"nx-h4\">Public disclosures<\/h3><p class=\"nx-p nx-mt-1\">Infrastructures publish quantitative disclosures under international principles, analysed with <a class=\"nx-link\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/stem\/financial-economics\/\">financial economics and macro-finance<\/a>. Disclosures are standardised but not fully granular.<\/p><\/div><\/li><li><span class=\"nx-eyebrow nx-index\">02<\/span><div><h3 class=\"nx-h4\">Margin modelling<\/h3><p class=\"nx-p nx-mt-1\">Studying how margin models respond to volatility, using <a class=\"nx-link\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/stem\/econometrics\/\">econometrics<\/a>. Models differ between CCPs.<\/p><\/div><\/li><li><span class=\"nx-eyebrow nx-index\">03<\/span><div><h3 class=\"nx-h4\">Network analysis<\/h3><p class=\"nx-p nx-mt-1\">Mapping links between CCPs and members, with <a class=\"nx-link\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/stem\/network-science\/\">network science and contagion<\/a>. Full membership exposures are confidential.<\/p><\/div><\/li><li><span class=\"nx-eyebrow nx-index\">04<\/span><div><h3 class=\"nx-h4\">Operational resilience analysis<\/h3><p class=\"nx-p nx-mt-1\">Mapping technology and third-party dependencies, informed by <a class=\"nx-link\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/stem\/payments-technology\/\">payment and financial market technology<\/a>.<\/p><\/div><\/li><\/ol><\/div><\/div><\/section><section id=\"nx-sec-methods\" class=\"nx-section\" data-hue=\"finance\" aria-labelledby=\"nx-s-14\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">13<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Methods<\/span><\/div><h2 id=\"nx-s-14\" class=\"nx-section-title\">How it is studied, and what the methods cannot say.<\/h2><\/div><div class=\"nx-section-body\"><div class=\"nx-methods\" data-limits=\"true\"><ol class=\"nx-mledger\" aria-label=\"Methods\"><li><a class=\"nx-mledger-main\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/stem\/payments-technology\/\"><span class=\"nx-mledger-n\" aria-hidden=\"true\">01<\/span><span class=\"nx-mledger-body\"><span class=\"nx-mledger-name\">Payment and financial market technology<\/span><span class=\"nx-mledger-role\">Settlement cycle analysis \u00b7 Liquidity simulation for infrastructures<\/span><\/span><span class=\"nx-mledger-go\"><span class=\"nx-mledger-go-label\">Applied here<\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/span><\/a><div class=\"nx-mledger-aside\"><a class=\"nx-mledger-canon\" href=\"https:\/\/therisk.global\/stem\/technology\/payments-technology\/\" aria-label=\"Payment and financial market technology: canonical page on the STEM Commons\" target=\"_blank\" rel=\"noopener\">Canonical \u00b7 STEM Commons <span aria-hidden=\"true\">\u2197<\/span><\/a><\/div><\/li><li><a class=\"nx-mledger-main\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/stem\/network-science\/\"><span class=\"nx-mledger-n\" aria-hidden=\"true\">02<\/span><span class=\"nx-mledger-body\"><span class=\"nx-mledger-name\">Network science and contagion<\/span><span class=\"nx-mledger-role\">Common holdings and fire-sale contagion \u00b7 Clearing membership networks<\/span><\/span><span class=\"nx-mledger-go\"><span class=\"nx-mledger-go-label\">Applied here<\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/span><\/a><div class=\"nx-mledger-aside\"><a class=\"nx-mledger-canon\" href=\"https:\/\/therisk.global\/stem\/mathematics\/network-science\/\" aria-label=\"Network science and contagion: canonical page on the STEM Commons\" target=\"_blank\" rel=\"noopener\">Canonical \u00b7 STEM Commons <span aria-hidden=\"true\">\u2197<\/span><\/a><\/div><\/li><li><a class=\"nx-mledger-main\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/stem\/financial-economics\/\"><span class=\"nx-mledger-n\" aria-hidden=\"true\">03<\/span><span class=\"nx-mledger-body\"><span class=\"nx-mledger-name\">Financial economics and macro-finance<\/span><span class=\"nx-mledger-role\">Yield curve and spread decomposition \u00b7 Leverage and fire-sale channels<\/span><\/span><span class=\"nx-mledger-go\"><span class=\"nx-mledger-go-label\">Applied here<\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/span><\/a><div class=\"nx-mledger-aside\"><a class=\"nx-mledger-canon\" href=\"https:\/\/therisk.global\/stem\/science\/financial-economics\/\" aria-label=\"Financial economics and macro-finance: canonical page on the STEM Commons\" target=\"_blank\" rel=\"noopener\">Canonical \u00b7 STEM Commons <span aria-hidden=\"true\">\u2197<\/span><\/a><\/div><\/li><li><a class=\"nx-mledger-main\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/stem\/distributed-ledgers\/\"><span class=\"nx-mledger-n\" aria-hidden=\"true\">04<\/span><span class=\"nx-mledger-body\"><span class=\"nx-mledger-name\">Distributed ledgers and digital assets<\/span><span class=\"nx-mledger-role\">Tokenised settlement design review \u00b7 Stablecoin reserve and redemption analysis<\/span><\/span><span class=\"nx-mledger-go\"><span class=\"nx-mledger-go-label\">Applied here<\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/span><\/a><div class=\"nx-mledger-aside\"><a class=\"nx-mledger-canon\" href=\"https:\/\/therisk.global\/stem\/technology\/distributed-ledgers\/\" aria-label=\"Distributed ledgers and digital assets: canonical page on the STEM Commons\" target=\"_blank\" rel=\"noopener\">Canonical \u00b7 STEM Commons <span aria-hidden=\"true\">\u2197<\/span><\/a><\/div><\/li><\/ol><aside class=\"nx-limits\" aria-label=\"What the methods cannot say\"><span class=\"nx-eyebrow\">What the methods cannot say<\/span><p class=\"nx-limits-text\">Public quantitative disclosures follow a common template but differ in timing, granularity and interpretation across central counterparties, so comparisons need care. Stress test scenarios are hypothetical and cannot cover every combination of defaults. Clearing member exposures across infrastructures are mostly confidential. Capital Markets Nexus does not assess compliance, rate infrastructures or advise clearing members; overseers and the infrastructures' boards decide.<\/p><\/aside><\/div><\/div><\/div><\/section><section id=\"nx-s-15-sec\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" aria-labelledby=\"nx-s-15\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">14<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Questions<\/span><\/div><h2 id=\"nx-s-15\" class=\"nx-section-title\">Questions and answers.<\/h2><\/div><div class=\"nx-section-body\"><div class=\"nx-faq\"><details><summary>Why do central counterparties both reduce and concentrate risk?<\/summary><div class=\"nx-answer\">They net exposures and collect margin, which lowers counterparty risk across the market. They also become points where large exposures meet, so their own resilience becomes a systemic question.<\/div><\/details><details><summary>What does cover two mean?<\/summary><div class=\"nx-answer\">A PFMI standard for central counterparties that are systemically important in several jurisdictions or run complex products: default resources sufficient to withstand the default of the two members with the largest exposures in extreme but plausible conditions.<\/div><\/details><details><summary>Does a shorter settlement cycle make markets safer?<\/summary><div class=\"nx-answer\">It shortens the time counterparties are exposed to each other and lowers margin needs. It also compresses the time to fund, match and correct trades, which raises operational demands.<\/div><\/details><details><summary>Does this page rate central counterparties?<\/summary><div class=\"nx-answer\">No. It explains the mechanisms and the public disclosures. Assessment belongs to overseers and regulators under the PFMI and national law.<\/div><\/details><details><summary>What is a default waterfall?<\/summary><div class=\"nx-answer\">The order in which a CCP uses resources to cover losses from a defaulting member, typically starting with that member's margin and default fund contribution, then the CCP's own capital and then other members' contributions.<\/div><\/details><details><summary>Is margin procyclicality a problem?<\/summary><div class=\"nx-answer\">It can be. Rising margin in stress protects the CCP but drains liquidity from members. Tools exist to dampen it, with trade-offs.<\/div><\/details><details><summary>Does the platform assess individual CCPs?<\/summary><div class=\"nx-answer\">No. It studies infrastructure risk at sector level and does not assess, rate or rank any infrastructure.<\/div><\/details><details><summary>What is settlement?<\/summary><div class=\"nx-answer\">The final transfer of securities and cash that completes a trade, usually through a central securities depository and a payment system.<\/div><\/details><\/div><\/div><\/div><\/section><section class=\"nx-section\" data-tone=\"alt\" aria-labelledby=\"nx-rel-16\"><div class=\"nx-container\"><span class=\"nx-eyebrow\">Related<\/span><h2 id=\"nx-rel-16\" class=\"nx-h3 nx-mt-2\">Around Capital Markets Nexus.<\/h2><nav class=\"nx-related nx-mt-3\" aria-label=\"Related\"><a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/equity-and-fixed-income\/\">Equity and fixed income <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/market-liquidity\/\">Market liquidity <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/market-data-quality\/\">Market data quality <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/market-concentration\/\">Market concentration <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/geopolitical-shocks\/\">Geopolitical shocks <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/digital-markets\/\">Digital markets <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/\">Capital Markets Nexus home <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/counterparts\/\">Counterparts across the Consortium <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/\">The Global Risks Alliance home <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a href=\"https:\/\/globalriskalliance.com\/trust\/\">GRA governance and trust <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/nav><\/div><\/section><section class=\"nx-closing\" aria-labelledby=\"nx-close-17\"><div class=\"nx-container\"><span class=\"nx-eyebrow\">Capital Markets Nexus<\/span><h2 id=\"nx-close-17\" class=\"nx-section-title\">Bring your expertise to this field.<\/h2><p class=\"nx-lede\">The current service level is R0: information and enquiries. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.<\/p><div class=\"nx-actions\"><a class=\"nx-btn\" data-variant=\"primary\" href=\"mailto:contact@globalriskalliance.com?subject=Capital%20Markets%20Nexus%3A%20Clearing%20and%20settlement\">Write to the team <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a class=\"nx-btn\" data-variant=\"secondary\" href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/contact\/\">See all contact routes<\/a><\/div><\/div><\/section><\/div><\/div><script class=\"_iub_cs_skip\">window.__nxMount ? window.__nxMount(document.currentScript) : null;<\/script>\n\n\n<script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"FAQPage\",\"@id\":\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/#faq\",\"isPartOf\":{\"@id\":\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/#webpage\"},\"inLanguage\":\"en\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why do central counterparties both reduce and concentrate risk?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"They net exposures and collect margin, which lowers counterparty risk across the market. They also become points where large exposures meet, so their own resilience becomes a systemic question.\"}},{\"@type\":\"Question\",\"name\":\"What does cover two mean?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"A PFMI standard for central counterparties that are systemically important in several jurisdictions or run complex products: default resources sufficient to withstand the default of the two members with the largest exposures in extreme but plausible conditions.\"}},{\"@type\":\"Question\",\"name\":\"Does a shorter settlement cycle make markets safer?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It shortens the time counterparties are exposed to each other and lowers margin needs. It also compresses the time to fund, match and correct trades, which raises operational demands.\"}},{\"@type\":\"Question\",\"name\":\"Does this page rate central counterparties?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It explains the mechanisms and the public disclosures. Assessment belongs to overseers and regulators under the PFMI and national law.\"}},{\"@type\":\"Question\",\"name\":\"What is a default waterfall?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The order in which a CCP uses resources to cover losses from a defaulting member, typically starting with that member's margin and default fund contribution, then the CCP's own capital and then other members' contributions.\"}},{\"@type\":\"Question\",\"name\":\"Is margin procyclicality a problem?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It can be. Rising margin in stress protects the CCP but drains liquidity from members. Tools exist to dampen it, with trade-offs.\"}},{\"@type\":\"Question\",\"name\":\"Does the platform assess individual CCPs?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It studies infrastructure risk at sector level and does not assess, rate or rank any infrastructure.\"}},{\"@type\":\"Question\",\"name\":\"What is settlement?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The final transfer of securities and cash that completes a trade, usually through a central securities depository and a payment system.\"}}]},{\"@type\":\"DefinedTermSet\",\"@id\":\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/#terms\",\"name\":\"Key terms: Clearing and settlement\",\"inLanguage\":\"en\",\"isPartOf\":{\"@id\":\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/#webpage\"},\"hasDefinedTerm\":[{\"@type\":\"DefinedTerm\",\"name\":\"Default waterfall\",\"description\":\"The order in which a central counterparty uses resources to cover a member's default, from its margin to the default fund and CCP capital.\",\"inDefinedTermSet\":{\"@id\":\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/#terms\"}},{\"@type\":\"DefinedTerm\",\"name\":\"Cover two\",\"description\":\"A standard that a systemically important CCP hold resources to withstand the default of its two largest members.\",\"inDefinedTermSet\":{\"@id\":\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/#terms\"}},{\"@type\":\"DefinedTerm\",\"name\":\"Procyclical margin\",\"description\":\"Margin that rises sharply in stress, draining liquidity when it is scarcest.\",\"inDefinedTermSet\":{\"@id\":\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/#terms\"}}]}]}<\/script>\n\n<!-- nx-rev:1990e8e8e51e1fd9 -->\n<!-- nx-path:\/topics\/clearing-and-settlement\/ -->","protected":false},"excerpt":{"rendered":"<p>LightDarkAuto A05 \u00b7 TOPIC \u00b7 clearing-and-settlementGRA dossier \u00b7 service level R0 GRA\u00b7Capital Markets Nexus\u00b7Established Topic dossier \u00b7 Capital Markets Nexus Clearing and settlement Clearing and settlement turn a trade into &hellip; <a href=\"https:\/\/globalriskalliance.com\/capital-markets-nexus\/topics\/clearing-and-settlement\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Clearing and settlement&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":1809,"menu_order":335,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_buddyx_sub_header_visibility":"","_buddyx_sub_header_title_visibility":"","_hide_show_side_panel":"","_buddyxpro_page_sidebar":"","_buddyxpro_page_disable_header":"","_buddyxpro_page_disable_footer":"","_buddyxpro_page_content_width":"","_buddyxpro_page_header_style":"","_buddyxpro_page_color_mode":"","_buddyxpro_page_loader":"","inline_featured_image":false,"footnotes":""},"class_list":["post-1827","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/pages\/1827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/comments?post=1827"}],"version-history":[{"count":2,"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/pages\/1827\/revisions"}],"predecessor-version":[{"id":1931,"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/pages\/1827\/revisions\/1931"}],"up":[{"embeddable":true,"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/pages\/1809"}],"wp:attachment":[{"href":"https:\/\/globalriskalliance.com\/capital-markets-nexus\/wp-json\/wp\/v2\/media?parent=1827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}