OTC Derivative Market Reforms – Financial Stability Board Progress Report

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On November 1, the Financial Stability Board (FSB) published the fourth in a series of progress reports on implementing OTC derivative market reforms. The report looks particularly at OTC market infrastructure across the FSB’s member countries, reviewing the ability to provide clearing services, collect and disseminate data and provide organised trading platforms.

The key messages contained in the report are:

  • market structure is already in place and can be scaled up without impeding progress in meeting G20 commitments for OTC derivatives trading, central clearing and reporting;
  • international  policy work on the four safeguards for global clearing is completed and implementation is proceeding at a national level; and
  • regulatory uncertainty remains the most significant impediment to further progress and to comprehensive use of market infrastructure.

The deadline for submitting feedback on the report is November 30.