China's clearing and reporting regimes being built bottom-up

China’s derivatives market will be built on the back of G20 reforms, giving one of the world’s largest economies a swaps market designed from the ground up for transparency, regulatory oversight and management of systemic risk

When members of the Group of 20 met in Pittsburgh in 2009 in the wake of the global financial crisis, they committed to reforms that ushered in a more calculated approach to systemic risk in the financial industry, and along with it, a new market structure for over-the-counter derivatives. Anchored by the principles of mandatory reporting of OTC derivatives transactions, mandatory clearing through central counterparties (CCPs) and mandatory trading on exchanges or electronic trading platforms