Custody Risk June 2013

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When the Group of 20 (G-20) nations decided after the 2008 financial crash and collapse of Lehman Brothers that over-the-counter derivatives contracts should be reported to trade repositories for macro assessment of the market to be carried out, they may not have truly appreciated the tangled web of national and commercial interests that would first require unpicking.

Since then, nationalistic tendencies have tended to drive the regulatory process, resulting in multiple trade repositories around