European Commission (EC)

OTC reforms built to last?

Reform of derivatives markets is gathering pace in the US ahead of a crucial debate in the House of Representatives. But questions remain over exemptions for corporate hedgers and foreign exchange swaps and forwards, meaning the final architecture of the…

ABS retention tension

A report by the Committee of European Banking Supervisors last month criticised aspects of a proposal to require securitisation originators to retain 5% of exposures from 2011, while practitioners maintain the move will do little to align incentives…

Positioning repositories

Regulators on both sides of the Atlantic agree on the need for trade repositories to aid the monitoring of systemic risk. But there is a difference of opinion on where these repositories should be based, leading to the possibility that multiple trade…

Moral hazards for CCPs

Derivatives practitioners fear the political push for central clearing of standardised contracts could create a moral hazard, as clearing platforms might compromise their risk management standards to create a more competitive service. How are regulators…

Stuck in the muddle

Regulators in the US and Europe are making efforts to extend central clearing to all asset classes. However, dealers argue that central clearing does not make sense for foreign exchange. By Alastair Marsh

Corporate concessions

Corporates have argued initiatives to introduce over-the-counter derivatives regulation in the US and Europe will severely hamper their ability to hedge. After an intensive lobbying effort, the politicians appear to be listening. Matt Cameron reports

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