Wednesday April 9 2014
News Source: Global Exchanges
Focus: Derivative Market Segment
Type: General
Country: International
Link: https://www.financialstabilityboard.org/press/pr_140408.pdf
The Financial Stability Board (FSB) have published the seventh of the FSB’s semi-annual progress reports on implementation of OTC derivatives market reforms.
G20 Leaders agreed in 2009 to a comprehensive reform agenda for these markets, to improve transparency, mitigate systemic risk, and protect against market abuse.
To achieve these objectives, the G20 has agreed that:
• all OTC derivatives contracts should be reported to trade repositories (TRs);
• all standardised contracts should be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties (CCPs);
• non-centrally cleared contracts should be subject to higher capital requirements and minimum margining requirements should be developed.
The report finds that substantial progress has been made toward meeting the G20 commitments, through international policy development, jurisdictions’ adoption of legislation and regulation, and expansion in the use of market infrastructure.
Click on the above link for further details.