Financial Stability Board demands faster OTC reform

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Each of the Financial Stability Board's (FSB) 24 member jurisdictions missed the G-20's deadline for implementing over-the-counter derivatives market reforms, the FSB revealed yesterday.

In its fifth progress report, the FSB evaluates the progress of its member jurisdictions in implementing the OTC derivatives market reforms agreed by the G-20 in 2009, including the commitment to trade all standardised OTC derivative contracts on exchanges or electronic trading platforms, clear them through

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