Dealers and legislators left disappointed by CPSS-Iosco recommendations
Proposals on risk management by CCPs should be more detailed, say participants
A long-awaited set of recommendations for central counterparties (CCPs) that clear over-the-counter derivatives was published last month, but dealers and policy-makers have expressed concern the proposals don’t go far enough to create robust and consistent regulation of CCPs internationally.
On May 12, the Basel-headquartered Committee on Payment and Settlement Systems (CPSS) and the Madrid-based International Organization of Securities Commissions (Iosco) published 15 recommendations for CCPs
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