Australia’s commitment to over-the-counter derivative reforms

A global focus on reforming the over-the-counter (OTC) derivative market stems from the recent global financial crisis and involves regulators committed to the same objectives: to enhance transparency of transaction information available to relevant authorities and the public; ensure financial stability; and support detection and prevention of market abuse.

In 2012, the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions published the CPSS-IOSCO Principles for financial market infrastructures, which set out standards for trade repositories (and other financial market infrastructures) to be applied by regulators around the world.

Trade repositories are facilities to which information about derivative transactions, such as maturity, price, reference entity and counterparty identity, can be reported by one or both counterparties. Their central function is to store and provide access to that data to users, domestic and overseas regulators, and the public, essentially serving as a reliable central data source which in turn should greatly enhance global transparency in the market…

If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.

Analysis from The Lawyer

  • Panel reviews

    Panel reviews 2014: The chosen ones

    Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all

  • training

    Accutrainee: Revolution postponed

    At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.

View more analysis from The Lawyer

Overview

One Bishops Square
London
E1 6AD
UK
http://www.allenovery.com

Turnover (£m): 1,234.30
No. of lawyers: 2,194 (UK 200)
Jurisdiction: UK
No. of offices: 11
No. of qualified lawyers: 273 (International 50)