MAS warns on derivatives
REGULATORY UPDATE
"When this unravels, will it be in an orderly manner?" she asked. "The settlement backlog in the derivatives market is an example of a situation where the front office develops much more quickly than the back office. The complexity of the instruments is only one reason for the backlog, another reason is the volume and the new participants in the market."
Many participants in the conference – the International Swaps and Derivatives Association's annual meeting in mid-March – had noted that many
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