About the book: 2013 / This book is a continuation of Peter Norman's famous work "Plumbers and Visionaries", dedicated to the formation of the European securities market. This time, the British journalist turns to a once little-known area of ​​financial infrastructure - clearing with the participation of central counterparties, which ensure the closure of derivatives and securities transactions in the event of default by one of the parties. Norman analyzes the history of the clearing business, talks about the principles of its work and, using the example of dramatic events, including 2008, when central counterparties had to “clean up” the consequences of the bankruptcy of Lehman Brothers, explains what role these organizations play in ensuring the smooth operation of the global financial system. The book is addressed primarily to industry specialists, as well as to anyone interested in economics, finance, business and their mutual influence on politics and legislation..