In Financial Derivatives, What Risk Is Analogous to the Counterparty Risk of a Double-Spend?

The counterparty risk of a double-spend in crypto is analogous to "settlement risk" or "default risk" in derivatives. Settlement risk is the risk that one party to a trade fails to deliver on their obligation after the other party has already performed.

Similarly, a double-spend means the sender failed to deliver the promised funds after the recipient (e.g. a merchant) delivered goods or services.