Cut derivatives volumes down to size, says European Parliament report


Derivatives volumes should be cut significantly so that volume is "proportionate" to the underlying securities, according to advice issued yesterday by the European Parliament's committee on economic and monetary affairs (Econ). In addition, the committee calls for a ban on credit default swap (CDS) transactions with no underlying credit and which are purely speculative in nature.

The document, which was obtained by Risk in draft form, is essentially a briefing to European Parliament members ahe

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