證券去來制度上 集中當事者의 私法的 基礎에 관한 考察

• 영문명: The way to improve legal stability of central counterparty scheme in Korean securities clearing and settlement system
• 발행기관: 한국사법학회(구 한국비교사법학회)
• 저자명: 김이수(Isu Kim)
• 간행물 정보: 『비교사법』比較私法 제13권 제3호, 429~459쪽, 전체 31쪽
• 주제분류: 법학 > 법학
• 파일형태: PDF
• 발행일자: 2006.09.01

영문 초록

  A multilateral netting is an usual means of diminishing credit risk in settling securities trades by curtailing values and amounts for settlement. Despite its huge economic implications, it has often been overlooked whether the consequences of multilateral netting can be supported by traditional civil law. If not, the entire securities settlement system will be in disorder due to the essential role of multilateral netting in clearing trades messages. In recent years, Japan has conducted significant revisions on its securities trade act, with the Central Counterparty(CCP) scheme being incorporated. Following these amendments, Japan has accomplished more stable legal circumstances regarding multilateral netting. Japanese reform, having similar legal regime with Korea, invokes some incentives to reconsider korean legal structure of current multilateral netting, including CCP scheme, and explore more stabilized judicial basis. The trend of introducing and enlarging CCP services into more financial instrument trading system is not limited only in Japan, but also in EU and US. Against those recent reform movements of developed countries on clearing arrangement, this article attempts to analyze the legal implications deriving from various regime regarding multilateral netting in securities settlement system and find a legal basis to improve judicial soundness of multilateral netting in Korea.

목차

Ⅰ. 序論
Ⅱ. 海外 集中當事者制度의 動向
Ⅲ. 集中當事者制度의 導入 背景
Ⅳ. 우리나라 集中當事者制度의 法的 問題點
Ⅴ. 結論
[참고문헌]
【ABSTRACT】

키워드

집중당사자제도 청산 결제 다자간차감 거래당사자방식 면책적채무인수방식 경개방식 위탁매매 central counterparty clearing settlement multilateral netting open offer novation Sculd？bernahme