This book is a must-read for anyone interested in understanding the aftermath of the credit crisis and how it has transformed the OTC derivatives market.

Written by a leading expert in financial stability and regulatory capital, David Murphy, this book provides a comprehensive overview of the market before the crisis, explains the concept of central clearing, and outlines the consequences of the new rules.

With a front-row seat in the post-crisis financial reforms as Head of Risk at ISDA, Dr.

Murphy is uniquely positioned to comment on the emerging financial system.

This book is essential reading for anyone looking to navigate the complex and ever-changing landscape of financial regulation.