OTC Derivatives Reform

Financial derivatives traded over the counter (OTC) were at the core of the global financial crisis. In response to the crisis, G20 emerging and developed countries increased their effort to overhaul financial regulation of OTC derivative markets. The workshop on OTC Derivatives Reforms, held on 12/13 September 2013 in Johannesburg, highlighted the challenges of OTC derivative reforms with a specific focus on emerging markets. The goal was to enhance peer learning of international policy-makers and industry representatives and to jointly develop practical solutions applicable to emerging markets.

Partners

Voices

Annah Manganyi,
Financial Services Board ZA

Voices

"A global concerted effort is key to guiding the development of a robust OTC Derivatives regulatory framework, to avoid regulatory arbitrage. This conference provides a great opportunity for achieving this objective both within the emerging markets and beyond".

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Norman Muller,
Head of the Capital Market Department,
Financial Services Board ZA

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"The Workshop will provide delegates the opportunity to exchange views on global developments and reforms re OTC derivative regulation, with specific focus on the challenges for Emerging Markets."

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Natalie Labuschagne,
Member of the G20 OTC Working Group,
National Treasury, ZA

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"The cross-border nature of the derivatives market and the fact that regulatory reform efforts are relatively new, make it important for regulators, policy setters and stakeholders across jurisdictions to interact regularly and to discuss critical issues of concern."

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Wolfgang Bucker,
Head of Financial Systems Development,
German International Cooperation (GIZ)

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 "The Emerging Market Dialogues bring together leading policy makers, financial institutions and international standard setting bodies in order to enhance peer-learning and to identify common positions in international OTC regulation. This is a great chance for all participants from emerging markets and advanced economies alike."

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Roy Haveman,
Chief Director of Financial Markets
and Stability, National Treasury, ZA

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“The implementation of OTC derivatives market reforms is highly complex and may have cross-border implications. This conference will bring together local and international experts on the field to exchange views and discuss the road ahead.”

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Rob Urry,
Deputy Registrar of Banks,
South African Reserve Bank

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"OTC Derivatives play a vital risk transmission and mitigation role in South Africa financial markets. Increased regulatory requirements for OTC derivative transparency, collateral, centralisation of contracting and record-collecting drive the key timing and necessity for a meeting of market participants and regulators in this workshop."