In depth: Has the US succeeded in its OTC reforms?

The bulk of the Dodd-Frank reforms were implemented last year. Now it is Europe's turn. Is there anything Europe can learn from across the Atlantic?

Those involved in the US derivatives market were likely to have ended 2013 breathing a deep sigh of relief, and congratulating themselves on making it through an extraordinary 12 months of regulatory change. After more than two years of rule-making by multiple US regulatory agencies, last year saw the bulk of the Dodd-Frank reforms rolled out – from mandatory trade reporting and clearing, to far-reaching external business conduct standards, to the controversial swap execution facility (Sef)