Law firm of the year: Davis Polk & Wardwell
The passing of the Dodd-Frank Wall Street Reform and Consumer Protection Act in the US last July marked the end of a year-long legislative procedure in both the House of Representatives and the Senate – but it is just the start of a process of change that could fundamentally alter the shape of the derivatives market.
The scale of the legislation is vast. In the derivatives space alone, a large proportion of the over-the-counter market will have to be cleared through central counterparties
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