--Rob McGlinchey
Some clearinghouses will have to expand their compliance operations due to extra reporting requirements for standardised over-the-counter derivatives arising from forthcoming regulation, and more frequent visits from multiregional regulators, according to officials.
Despite derivatives legislation yet to be agreed in either the U.S. or the E.U., it is expected that clearinghouses will have to, for example, report trades to regulators and trade repositories and submit clearing applications to regulators. In a recent Bank for International Settlements report, clearinghouses have also been advised to make sure the systems ....