Buy-side firms urged to avoid stampede to CCPs
Buy-side firms should begin testing over-the-counter derivatives clearing services as early as possible to avoid getting trampled in a last-minute stampede, according to senior industry participants at a recent webinar hosted by Risk in New York.
Under the Dodd-Frank Act, standardised OTC derivatives will be required to be traded on swap execution facilities and cleared through central counterparties (CCPs). Regulators are going through a lengthy process of rule-making to implement the changes
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