Pickel opposes drive for central clearing

Bob Pickel ISDA

The International Swaps and Derivatives Association has criticised US Treasury plans to compel clearing and exchange trading of standardised derivatives contracts. At a meeting of the US House of Representatives Committee on Agriculture on September 17, Isda chief executive Robert Pickel said the Treasury's proposals for OTC derivatives regulation would undermine its broad public policy goals. In particular, he said mandatory exchange trading would weaken OTC derivatives as a tailored means o