Community
The Financial Stability Board (FSB) has published its seventh detailed progress report on the implementation of OTC derivatives market reforms. The report observes that significant progress has been made in fulfilling the G20 commitments through global policy development, adoption of legislation and expanded use of market infrastructure.
In respect of trade reporting 15 (of 19) FSB member jurisdictions have trade reporting requirements in effect for one or more product or participant types, although specific reporting requirements currently vary across jurisdictions. By end 2014 all but three jurisdictions are expected to have trade reporting requirements in effect. The FSB reports that authorities continue to face challenges regarding the usability of and access to data held by Trade Repositories and stresses the importance of greater standardisation in transaction reporting.
The report sets out:
The report also discusses areas where further work is needed to complete the reforms and achieve the G20 objectives, including for Authorities to:
The FSB will continue to monitor jurisdictions' implementation of the OTC derivatives reform programme, as well as the extent to which the implemented reforms meet the G20's underlying goals of improving transparency, mitigating systemic risk, and protecting against market abuse. The FSB will publish its next progress report ahead of the November G20 Leaders' Summit.
Related link:
http://www.financialstabilityboard.org/publications/r_140408.htm
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Alexander Boehm Chief Executive Officer at PayRate42
05 September
Alexander Saleh Head of Partnerships at Coincover
02 September
Alex Kreger Founder & CEO at UXDA
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.