Cesr pushes electronic confirms for OTC market

The Committee of European Securities Regulators (Cesr) may push for compulsory electronic confirmation of over-the-counter derivatives trades, under proposals described in a consultation paper issued today. The regulator called last year for confirmation to be as fast as possible - no later than the day of trading - and said that "fully automated and fully interoperable systems should be in place, to avoid inefficiency and market fragmentation".

But today's paper hinted that Cesr could exempt

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