Future of OTC operational commitments under review

A senior group of supervisors who have pushed the derivatives industry to make voluntary pledges to improve operational efficiency over the past five years is reviewing the role of such commitments as more binding rules to regulate over-the-counter instruments are introduced.

The latest set of commitments, delivered in a letter on March 1 to William Dudley, president of the Federal Reserve Bank of New York, covered a range of targets on transparency, central clearing, standardisation and collate