Recent meeting of the OTC Derivatives Regulators' Forum

The OTC Derivatives Regulators' Forum meeting in Rome on 21-22 March 2013

25 March 2013

The OTC Derivatives Regulators' Forum (ODRF) met on 21 and 22 March in Rome to discuss the OTC derivatives market reform processes underway in different jurisdictions.

During the meeting authorities discussed the issues they are currently facing in the implementation of  OTC derivatives market reform.  Topics discussed included developments in oversight and supervisory practices with respect to  central counterparties (CCPs) and trade repositories (TRs).  The ODRF also discussed the authorities' experiences in using TR data for the performance of their  mandates and how TRs can best support them in the objective of improving the transparency of the OTC derivatives market.

The ODRF also held sessions with ISDA and a number of OTC derivatives CCPs and TRs.  The topics discussed included the status of product and process standardization in the OTC derivatives market, competitive pressures in the industry and major developments as different jurisdictions move towards mandatory clearing and reporting.

The ODRF is a group of 58 financial authorities - including central banks, market regulators,  prudential supervisors and international standard setting bodies - who meet periodically to exchange views and share information on OTC derivatives CCPs and TRs. The next in-person meeting of the ODRF will be held in New York in November 2013.

Agendas for this and previous meetings of the ODRF, a list of members and documentation relating to the Forum's work are available at http://www.otcdrf.org/