Regulators eye equity derivatives
SINGAPORE – Non-vanilla equity derivatives could be the next product that regulators focus on, now that the financial services industry is tackling the rising volume of credit derivatives trades that are outstanding.
Both the UK's Financial Services Authority and the US Federal Reserve have taken banks to task over the rising levels of outstanding confirmations on their credit derivatives trading book over the past year. The US Fed was so concerned that it called a meeting in September at which it asked the industry to commit to significant reductions in outstanding confirmations. Regulators fear that such high levels of outstanding confirmations pose a significant operational risk for firms that could
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