US TO regulate OTC derivatives
WASHINGTON, DC - US Treasury secretary Timothy Geithner has unveiled plans to regulate the over-the-counter derivatives market in the US.
The move by the Obama administration is in line with steps taken by the European Commission to supervise such trades by forcing them through regulated central counterparties.
The OTC market - estimated to be worth more than $680 trillion - has received bad press during the global financial crisis over its opacity. Trades often take place over the phone, making
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