Regulation of Over-the-Counter Derivatives

Article excerpt


The Fordham Journal of Corporate & Financial Law's 2012 Symposium, entitled "Regulation of Over-the-Counter Derivatives," took place on February 13, 2012 at Fordham University School of Law. Practitioners, academics, and students gathered to examine the new regulations imposed on OTC derivatives in light of the DoddFrank Act. Specifically, the panelists looked at the efforts of the SEC, the CFTC and other regulatory agencies to eliminate bilateral derivatives trading and move derivatives trading onto centralized clearinghouses and exchanges. Title VII of the Dodd-Frank Act aims to change the way derivatives markets operate and how market participants are regulated. The main goal is to centralize counterparty credit risk through the establishment of centralized clearinghouses for derivatives trading, or by moving derivatives trading onto exchanges, where the risk could be supervised and managed. This legislation was intended to increase the transparency and efficiency of the OTC derivatives markets and to reduce the potential for counterparty and systemic risk by eliminating, or at least minimizing, bilateral trading in favor of centralization. …


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