20 August 2012

Academia and Industry to debate OTC derivatives clearing at Sibos

The first ever Sibos Colloquium will focus on OTC derivatives clearing and the potential impact of the forthcoming regulations

Osaka 2012 will see the launch of the Sibos Colloquium, a session consisting of two presentations followed by an open debate.  The first event will focus on OTC derivatives clearing and Manmohan Singh, Senior Economist at the International Monetary Fund will present his paper on “Making OTC Derivatives Safe – A Fresh Look”.  In response, Godfried De Vidts, Director of European Affairs at ICAP plc will offer his views regarding Mr. Singh’s proposals.

The recent regulatory adoptions in July 2012 by the European Union and the United States call for a thorough examination of the potential implications of a mass transfer in clearing OTC derivative contracts to CCPs.  Mr Singh argues that the new regulations will simply create risk transference and that the introduction of a tax on derivative liabilities would provide a better alternative for minimising risk.  Moreover, he notes that the regulations may even have the unintended consequences of potentially inflating the Sovereign Debt Crisis.  In a series of three articles to follow we will briefly review these arguments that will be examined in further detail at the Sibos Colloquium.

The SWIFT Institute in its inaugural attendance at Sibos is proud to be hosting the Sibos Colloquium.  Created in April 2012, the SWIFT Institute is dedicated to fostering research and disseminating knowledge and information about the financial services industry.


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