Second helpings – Aaron Woolner column

Second helpings

baton-secondaries

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.O