The Financial Stability Board (FSB) has published three reports looking at the ongoing derivatives markets reform process and while the news is broadly positive the FSB says there is still more progress needed on trade repositories (TRs).
A summary of the papers will be delivered to the G20 heads at the upcoming Hamburg meeting – the reform process started in September 2009 at the Pittsburgh G20 summit.
The latest reports find that implementation of the reforms is now well progressed, although this has taken longer than originally intended due to the scale and complexity of the reforms and other challenges.
A new report from Tabb Group argues that with regulators becoming increasingly strict on OTC derivative trade reporting it is time for firms to consider a comprehensive review of the trade reporting process.
The report, Checking in on OTC Reporting Rules was authored by Tabb’s head of derivatives research Russell Rhoads, who points out that a key component to reducing risk levels in financial markets involves regulators having access to timely and accurate data. “With the new regulations mostly set in stone, now may be the best opportunity for firms to consider a comprehensive review of the OTC trade reporting process,” he says.