Esma foresees a rush to report
On paper, the roadmap for financial reform produced at the G-20 Pittsburgh summit in September 2009 was so clear, and so simple – all standardised over-the-counter derivatives contracts would be cleared through central counterparties (CCPs) by the close of 2012, reported to trade repositories (TRs) and traded on electronic platforms, where appropriate.
In practice, the path laid out in that communiqué has proved to be full of obstacles, kinks and switchbacks. December 2012 has been and gone, and
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