Dealers and legislators left disappointed by CPSS-Iosco recommendations

A long-awaited set of recommendations for central counterparties (CCPs) that clear over-the-counter derivatives was published last month, but dealers and policy-makers have expressed concern the proposals don’t go far enough to create robust and consistent regulation of CCPs internationally.

On May 12, the Basel-headquartered Committee on Payment and Settlement Systems (CPSS) and the Madrid-based International Organization of Securities Commissions (Iosco) published 15 recommendations for CCPs,