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2018, iss. 40, pp. 121-133
Importance and perspectives of clearing development in Serbia
aInstitute of Agricultural Economics, Belgrade
bUniversity of Belgrade, Faculty of Economy
cUniversity of Belgrade, Faculty of Agriculture

emailkovacevic_v@iep.bg.ac.rs, irenaj@ekof.bg.ac.rs, za
Keywords: clearing; derivative market; futures; options; swaps
Abstract
The paper analyses the importance of the development of clearing in the Republic of Serbia. The primary role of clearing houses is to ensure the performance of derivative contracts. Clearing houses are institutions that are necessary for the functioning of derivative exchange and the part of the OTC derivative market. High uncertainty in business reflected in changes in prices, exchange rates, interest rates, climatic conditions, etc. led to the development of the term contracts trading and the need to develop a clearing system. In Serbia, despite the established legal requirements trading in standardized derivative contracts did not come to life in practice. Based on the findings in this paper, the underlying reason for the absence of a developed derivative market lies in an inadequate clearing system.
References
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article language: Serbian
document type: Scientific Paper
DOI: 10.5937/AnEkSub1840121K
published in SCIndeks: 01/02/2019
Creative Commons License 4.0