As part of its ongoing work in creating a sounder financial system, the European Commission has tabled today a proposal for a regulation aimed at bringing more safety and more transparency to the over-the-counter (OTC) derivatives market. In its draft regulation, the Commission proposes that information on OTC derivative contracts should be reported to trade repositories and be accessible to supervisory authorities.
The report recommends that credit-default swaps should be subjected to independent central clearing, and that derivatives dealers should not own central counterparties. Read the report
In the light of the recent crisis recent developments this report aims to assess the counterparty risk and the main related risks faced by European market participants that are active within and exposed to the credit default swap (CDS) market.Download the full document (.pdf)
CESR publishes the responses to its consultation on classification and identification of OTC derivative instruments for the purpose of the exchange of transaction reports amongst CESR Members.
