Industry disappointed by lack of clout in CCP standards
Recommended standards for central counterparties (CCPs) for over-the-counter derivatives have received a tepid reaction among dealers, who had hoped for something far more hard-line.
The 38-page document, published last week by the Basel-based Committee on Payment and Settlement Systems (CPSS) and the Madrid-based International Organization of Securities Commissions (Iosco), lists 15 recommendations for CCPs, covering issues such as participation requirements, margin setting, default procedures
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