Reform of the OTC derivatives is gathering pace as regulators seek to find ways to prevent a repeat of the near collapse of the financial system after the demise of Bear Stearns, the default of Lehman Brothers and the bailout of AIG. Central to this effort in both Washington and Brussels is the shift – in the words of the EU’s October Communication – from a “predominantly OTC bilateral to more centralised clearing and settlement”.
However, both professionals in the market and their customers are becoming concerned about how the reform process is developing.
Some of the key questions are:
The purpose of this highly topical conference is to provide an update for both professionals in the market and their customers on where this reform process stands and what it is likely to mean for them.