看不太懂解析，希望老师再解答一下这个知识点，谢谢

问题如下：

In a credit default swap, the party that receives a series of cash payments in return for promising to pay compensation for credit losses resulting from a third party’s default is most likely the:

选项：

A.

clearinghouse.

B.

seller of the swap.

C.buyer of the swap.

解释：

B is correct. A credit default swap is a derivatives contract between a credit protection buyer and a credit protection seller in which the seller receives a series of cash payments from the buyer in return for a promise of compensation for credit losses resulting from a third party’s default.

A is incorrect. A credit default swap is a derivatives contract between a credit protection buyer and a credit protection seller in which the seller (not the clearinghouse) receives a series of cash payments from the buyer in return for a promise of compensation for credit losses resulting from a third party’s default.

C is incorrect. A credit default swap is a derivatives contract between a credit protection buyer and a credit protection seller in which the seller (not the buyer) receives a series of cash payments from the buyer in return for a promise of compensation for credit losses resulting from a third party’s default.