Dealers opt to break reporting rules in privacy clash

No easy solution as European and US reporting rules collide with foreign laws

privacy-app

If dealers in Europe and the US are to comply with derivatives reporting rules, they need to reveal the identity of their counterparty in each new trade – a requirement that, in some jurisdictions, breaches national laws preventing this information being shared with foreign authorities. While regulators and politicians search for a solution, dealers have an unappetising choice. So, what are they doing? "We've been masking identities in any jurisdiction we deem as problematic," says a re