The Devil Will Be in The Detail When It Comes to the Harmonisation of OTC Derivatives Reporting

Ian Thomas, Regulatory Solutions Expert for the financial services consultancy Quorsus, examines the different derivative reporting “guidelines” used by some jurisdictions but not others, and answers the question: will Critical Data Elements (CDE) bring the harmony that the Financial Stability Board (FSB) is seeking?

There has been a lot of activity around the regulation of OTC derivative contracts, all stemming from global financial events that occurred over 10 years ago. It’s hard to believe that so much time and effort is still being expended seeking to deliver a unified global response, over a decade later. So, to really take stock of today’s developments and where we are heading next, it’s worth rewinding back to the days when the phrase we heard multiple times a day was ‘financial crisis’ rather than ‘global pandemic’.

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