The Risk
Central counterparties (CCPs) have a systemically important role in resolving many of the issues that triggered the 2007 global financial crises, both in clearing OTC derivatives markets and domestic cash markets. Every CCP has its own way of operating, different margin models, risk waterfalls, financial, ownership and governance models.
- What happens to your collateral contribution in the event of a default?
- What happens to your open positions?
- If a major participant at the CCP goes into default, how quickly does your collateral come under threat?
These questions and others are hugely important for deciding which CCP(s) best fits investor needs. There is huge potential for systemic risk in CCPs and the consequences of failure could be very serious for clearing members, their clients, and the wider market.
The Solution
Thomas Murray has addressed the global regulatory and risk imperative to assess and monitor CCPs as risk concentrating vehicles. CCP Risk Assessments assess the extent to which a CCP manages your risk burden. There are two key benefits:
- Every assessment brings transparency to the industry for the benefit of users
- Using Thomas Murray provides cost savings to regulated firms that are required to perform due diligence and risk assessments on CCPs
Thomas Murray assesses risks at CCPs across six categories:
Counterparty risk
Liquidity
Asset safety
Financial risk
Operational risk
Governance and transparency
We safeguard clients and their communities
Petroleum Development Oman Pension Fund
“Thomas Murray has been a very valuable partner in the selection process of our new custodian for Petroleum Development Oman Pension Fund.”
ATHEX
"Thomas Murray now plays a key role in helping us to detect and remediate issues in our security posture, and to quantify ATHEX's security performance to our directors and customers."
Northern Trust
“Thomas Murray provides Northern Trust with a range of RFP products, services and technology, delivering an efficient and cost-effective solution that frees our network managers up to focus on higher Value activities.”
Insights
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A decade ago, cyber due diligence sat somewhere between “nice to have” and “we’ll deal with it post-close.” That world no longer exists.
Thomas Murray Launches Digital Asset Market Information (DAMI)
Thomas Murray, a global leader in risk management, due diligence, and cybersecurity services, is proud to announce the launch of Digital Asset Market Information (DAMI).
Solving the "Scale Paradox": How to Automate Portfolio Oversight with Fewer People
In 2026, private equity technical teams are facing a "Scale Paradox": portfolios are growing in complexity, while in the internal teams responsible for operations and cybersecurity oversight, headcounts remain stagnant.
How Private Equity Hackers Choose Their Targets
Private equity firms sit at the intersection of high-value financial transactions, sensitive deal data, and an expanding portfolio of technology heavy portfolio companies – and it’s this combination that makes PE an attractive target for cyberthreat actors.
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