The Futures and Options Association has welcomed US Treasury secretary Tim Geithner’s plan for a complete overhaul of regulation in the over-the-counter derivatives markets.
The UK-based trade body said it supported more “comprehensive” requirements to report trades to regulators and shifting “standardised” OTC transactions to be cleared by central counterparties (CCPs).
“To this extent, the proposals of the Treasury secretary are consistent with overall global thinking,” the FOA’s statement said.
On May 13, Geithner, together with...