Monday February 10 2014
News Source: Global Exchanges
Focus: Other
Type: General
Country: International
Link: http://www.financialstabilityboard.org/publications/r_140204.htm
G20 Leaders agreed, as part of their commitments regarding over-the-counter (OTC) derivatives reforms, that all OTC derivatives contracts should be reported to trade repositories (TRs). A good deal of progress has been made in establishing the market infrastructure to support these commitments.
However, the data will be reported to multiple TRs located in a number of jurisdictions. The FSB has therefore set up a study group to consider how to ensure that the data reported to TRs can be effectively used by authorities, including to identify and mitigate systemic risk, and in particular through enabling the availability of the data in aggregated form. The FSB, in consultation with the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions, will then make a decision on whether to initiate work to develop a global aggregation mechanism and, if so, according to which type of aggregation model and which additional policy actions may be needed to address obstacles.
The study is focusing on the feasibility of options for data aggregation in the current regulatory and technological environment and given the existing (and planned) global configuration and functionality of TRs. The aggregation options are being considered on the basis that they would complement, rather than replace, the existing operations of TRs and authorities` existing direct access to TR data.
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