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王同学2018-11-04 21:18:23

Payment netting is the simple netting of cash flows due on the same day. Closeout netting occurs if there is an event of default, which would include an incidence of fraud. One of the shortcomings of clearinghouses, and closeout netting as well, is that the other party, in this case ABC, jumps to the head of the queue with its claim on Repo Co. to the possible detriment of others, particularly those outside the clearinghouse in general. Thus, only C is correct. 老师这个题的解析不是很明白,可以详细说一下嘛?

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Galina2018-11-05 16:29:50

如果发生违约事件或者欺诈,将close out也就是结束交易或者netting结算。close的缺点之一是:比如本题中,由于repo.co的文件欺诈,它和ABC的交易会close out,此时ABC相当于可以立即和repo co清算【假设合约本来是一年到期,现在由于欺诈,半年就可以结算】,这可能对其他公司造成损害,比如其他在9月到期的交易,但由于ABC先清算了,如果很不幸,和ABC清算之后repo co没钱了,那么其实损害了这个在9月交易到期的公司的利益

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