Profile: Isda chair Stephen O'Connor on OTC market reform
Regulators are finalising in-depth rules on central clearing, margin requirements and central counterparty risk management standards, but plenty of questions remain. Nick Sawyer talks to Stephen O’Connor, chairman of the International Swaps and Derivatives Association, about some of the outstanding issues
The choice of Stephen O’Connor as new chairman of the International Swaps and Derivatives Association in April sends a very clear message. Isda has, in the past, tended to pluck its chairmen from the trading floor – the most recent was Eraj Shirvani, head of fixed income for Europe, the Middle East and Africa at Credit Suisse. O’Connor is different: he has spent a chunk of his more than 20-year career at Morgan Stanley working in central clearing. It’s a change of tack that speaks volumes about
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