Cesr pushes electronic confirms for OTC market
European securities regulator suggests electronic confirmation could be mandatory
The Committee of European Securities Regulators (Cesr) may push for compulsory electronic confirmation of over-the-counter derivatives trades, under proposals described in a consultation paper issued today. The regulator called last year for confirmation to be as fast as possible - no later than the day of trading - and said that "fully automated and fully interoperable systems should be in place, to avoid inefficiency and market fragmentation".
But today's paper hinted that Cesr could exempt
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