Lessons in clearing from Brazil

Been there, done that

Six months after the passing into law of the Dodd-Frank Wall Street Reform and Consumer Protection Act last July, the exact form of the regulation is slowly starting to take shape. US regulators are ploughing their way through the hundreds of clauses within the legislation that require more detailed rules, and have started to tackle some of the issues that will be vital to the new regime – the risk management requirements for derivatives clearing houses, principles for swap execution facilities