| 单词 | counterparty risk |
| 释义 | counterparty risk The risk that either of the parties to a contract (counterparties) will fail to honour their obligations under the contract. In such organized markets as the London Commodity Exchange and London International Financial Futures and Options Exchange, this risk is reduced by the London Clearing House (LCH) becoming counterparty to the contract, i.e. the buyer contracts to buy from LCH and the seller contracts to sell to LCH (see novation). The risk of default by either the buyer or the seller is thus assumed by LCH, the buyer and seller being left with the greatly reduced counterparty risk that LCH will fail. The risk is, however, greater in over-the-counter (OTC) transactions. |
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