EC delays derivatives reform proposals to 2010

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Further reform of the over-the-counter derivatives market expected from the European Commission (EC) tomorrow is likely to take the form of soft recommendations rather than legislative proposals and could be delayed until later in the week, according to an EC official.

The EC published a communication on possible reforms on July 3, to include greater use of central counterparties (CCPs) for clearing OTC derivatives and central data repositories, as well as a possible push towards exchange

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