Counting the cost of reform – Isda end-user survey

End-users are sceptical about the health benefits of derivatives market reforms, according to a new Isda survey. Here, a selection of firms explain why they fear rules designed to improve the market will instead be its undoing. Tom Osborn reports

Martin O'Donovan at the Association of Corporate Treasurers
Martin O'Donovan, Association of Corporate Treasurers


The financial system is safer than it was five years ago, but that’s no thanks to the clearing, execution and reporting reforms agreed by the Group of 20 (G-20) nations in 2009, according to end-users responding to a new survey by the International Swaps and Derivatives Association.

Roughly 60% of those firms – the largest group of which were non-financial corporates – believe the system is on a sounder footing, with a shade under 20% disagreeing. But when it comes to

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