Isda AGM: ‘Life as we know it will change,’ says O’Connor

New regulations will help reduce systemic risk, but changes need to be made to certain parts of the rules, Isda chairman says

Regulatory changes will fundamentally change how the derivatives markets work, but some of those changes could harm the global banking system, according to Stephen O'Connor, managing director and global head of over-the-counter client clearing at Morgan Stanley and chairman of the International Swaps and Derivatives Association.

Speaking at Isda's annual general meeting in Chicago this morning, O'Connor stressed the derivatives industry supports regulatory efforts to reduce systemic risk, but