Second helpings – Aaron Woolner column
Asia's regulators have missed the G-20 deadline for central clearing of OTC derivatives, but is it any wonder given the uncertainty over clearing in the US and Europe?
Deadlines were a source of joy to Douglas Adams, the English author of The Hitchhikers’ Guide to the Galaxy, who said he liked “the whooshing sound they make as they fly by”. If Asian financial regulators share Adams’ happiness over missing targets, then they must be rejoicing this month as the deadline – set by the G-20 in Pittsburgh in 2009 – for all standard over-the-counter (OTC) derivatives to be centrally cleared by January 1 has been soundly missed.
Of the seven Asian jurisdictions that
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