Dealer-led market may be disrupted by Dodd-Frank
Banks could lose margins and competitive edge as a result of derivatives reforms in Dodd-Frank Act
A drive by regulators to introduce more exchange-like features to the over-the-counter market might be a boon for clearers and exchanges, but is likely to be disruptive for banks.
The idea of making OTC markets more similar to their exchange-traded counterparts is embodied in the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed into US law on July 21.
The legislation
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