OTC Derivatives Reform: This is Just the Beginning
Since the signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the over-the-counter (OTC) derivatives market is arguably subject to the most significant transformation. This paper focuses on four key mandates arising from Dodd-Frank for OTC derivatives and attempts to define many of the “unknowns” and compliance challenges across OTC derivatives market participants: users, dealers, and infrastructure providers.
Our four areas of focus are:
- Electronic trading via swap execution facilities (SEFs)
- Clearing through central counterparties (CCPs)
- Reporting to swaps data repositories (SDRs)
- Adherence to business conduct standards
Read this paper to gain an understanding of these four key mandates and what lies ahead.