A long road but a clear view
Progress has already been made in establishing central clearing for credit default swaps but it will take industry-wide cooperation and an eye for detail to finish the job.
With the events of September 2008 now almost a year in the past, it's time to take a break from the hand-wringing and look at some positive actions that are moving financial markets forward. In the wake of calls for more oversight of over-the-counter derivatives, the derivatives industry has taken steps to make the marketplace more secure, while working to retain these products' robustness as globally utilised risk management tools.
Central clearing has been a front-burner topic, and the
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