May 04, 2010
• Bylined Articles
Consensus Is Crucial For Global OTC Ground Rules
Donald F. Donahue, Chairman and Chief Executive Officer, The Depository Trust & Clearing Corporation
Summary
European and US
authorities are moving
forward with adopting
oversight reforms to ensure
financial markets have
greater protection from
systemic risk and provide
tighter supervision of the
global over-the-counter
derivatives market. As
legislators and regulators
grapple with these
proposed policies, several
important questions must
be addressed.
Most crucially, how can
necessary improvements be
implemented in a way
consistent with the
global
nature of these markets?
Can global infrastructures
for these instruments be
preserved? Can a
global set
of transparency
requirements governing
these markets be agreed
upon, across multiple
regulators and
jurisdictions?
Download the Congressional Testimony: Consensus is crucial for global OTC ground rules