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RDP 2016-07: The Efficiency of Central Clearing: A Segmented Markets Approach
Equation
C
C
P
R
,
t
≥
𝔼
t
[
C
C
P
P
,
t
+
1
]
MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaam4qaiaadoeacaWGqbWaaSbaaSqaaiaadkfacaGGSaGaamiDaaqabaGccqGHLjYScaWGfbWaaSbaaSqaaiaadshaaeqaaOWaamWaaeaacaWGdbGaam4qaiaadcfadaWgaaWcbaGaamiuaiaacYcacaWG0bGaey4kaSIaaGymaaqabaaakiaawUfacaGLDbaaaaa@4776@