This report finds that the jurisdictions currently with the largest markets in OTC derivatives – the EU, Japan and the US – are the most advanced in structuring their legislative and regulatory frameworks to implement the G20’s commitments to reform global OTC derivatives markets. Other jurisdictions are generally less advanced although progress has been made by many of them – one reason for the slower timetables in some jurisdictions has been that authorities had been waiting for the key elements of the regulatory frameworks in larger jurisdictions to be finalised before putting their own legislation in place, in an effort to be consistent with these frameworks.  Standard-setting bodies have also made significant progress in developing the international policies that facilitate the advancement of OTC derivatives reforms across jurisdictions.