Ninth Progress Report on Implementation of OTC Derivatives Market Reforms
This report is the ninth progress report by the FSB on implementation of OTC derivatives reforms. Implementation of OTC derivatives market reforms is well underway, with the foundational authority needed to give effect to the full range of these reforms in place in most FSB member jurisdictions. Implementation is most advanced for trade reporting and for higher capital requirements for non-centrally cleared derivatives. While there has been further incremental progress in further incremental progress in promoting central clearing of standardised OTC derivatives, few jurisdictions have regulatory frameworks in place to promote execution of standardised contracts on organised trading platforms measures to promote trading on exchanges or electronic trading platforms, as appropriate. The report sets out detail on jurisdictional progress across reform areas, as well as discussing implementation issues that have been identified by authorities, and a range of international workstreams in train to address these.