Client Clearing and Market Structure in CDS Markets

Published: May 2026
Salil Gadgil, Researcher, Office of Financial Research, examines how client clearing has reshaped CDS markets and why the features that improve efficiency can create new vulnerabilities during periods of stress.

Climate Risk Premium: Evidence from Commodity Options

Published: May 2026
Dr. Kaitao Lin, Senior Financial Economist at the WFE, says commodity options markets are already pricing in climate risk, with “brown” contracts carrying higher premiums than their greener counterparts.

WFE News and Publications Round-up for April

Published: May 2026
Catch up on recent WFE news, consultation responses and announcements:

CEO Letter

Published: May 2026

Welcome to the May edition of Focus. 

In this edition, alongside an article by Rana Usman, Chief Operations Officer of NSE Clearing Ltd., explaining the innovation behind this year’s runner-up WFEClear Innovation Award entry, we present a summary of the research papers featured at this year's WFEClear conference. These papers were selected by the conference’s Scientific Committee based on their originality, academic rigour and relevance.

Fernando Cerezetti, Chief Risk Officer, ClearToken CCP Limited, opens with a fundamental rethinking of portfolio risk measurement, introducing an expanded Value...

Muscat Stock Exchange CEO on Building a Stronger Capital Market for Oman’s Future

Published: Apr 2026
Capital markets today are not merely platforms for trading securities; they are strategic financial infrastructures that mobilise long-term capital, strengthen corporate governance, and support private-sector growth.

DTCC: Focused on Strengthening the Financial System

Published: Apr 2026
Val Wotton, MD and Global Head of Equities Solutions, outlines how DTCC is strengthening the financial system through enhanced clearing and settlement capabilities, resilient market infrastructure and the digitisation of assets.
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