The over-the-counter derivatives business saw its first ever double digit decline in the second half of last year, according to the latest data from the Bank for International Settlements.The BIS reports that the total notional amount of OTC derivatives contracts outstanding was US$592.0 trillion at the end of December 2008, 13.4% lower than six months […]
The U.S. government has unveiled its plan to bring some regulatory oversight, and improved transparency, to the over-the-counter derivatives markets.The proposals published Wednesday would require clearing of all standardized OTC derivatives through regulated central counterparties, which would impose margin requirements and other risk controls.As well, all OTC derivatives dealers and firms that create large counterparty […]
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U.S. regulators to address OTC market in credit default swaps
The Bank for International Settlements reported that notional amounts outstanding of over-the-counter derivatives continued to expand in the first half of 2008, although credit default swap volumes ticked down.Notional amounts of all types of OTC contracts stood at US$683.7 trillion at the end of June, 15% higher than six months before, the BIS said.However, terminations […]
Regulators in Canada, U.S. and Europe spurred by recent market turmoil to increase scrutiny
The Federal Reserve Bank of New York said that it welcomes a pledge by major market participants to further strengthen the operational infrastructure for over-the-counter derivatives.In a letter released today, market participants outline plans for building a stronger integrated operational infrastructure capable of supporting the rapidly growing OTC derivatives market.The commitments presented in this letter […]
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