Cleartrade Roundtable Voting Questions  Responses
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Cleartrade Roundtable Voting Questions  Responses Cleartrade Roundtable Voting Questions Responses Presentation Transcript

  • Strictly Private and Confidential Global Transformation of Over-the-Counter (OTC) derivatives markets – 2011 reflection and what ’ s ahead in 2012
  • 1. Do you expect the first iterations of the G20 regulatory reforms to be implemented during 2012 as outlined by Dodd Frank and the CFTC?
    • Yes in the times outlined
    • Within 6 months of the stated times
    • Within 12 months of the stated times
    • No, I do not expect them to happen
    Cross-Tab Label 0 / 40
  • 2. Is your organization having to invest in technology or services to meet the anticipated requirements of the derivatives reform?
    • Yes we have projects underway
    • We are planning to start in 2012
    • No but we need to do something
    • No – it does not affect us
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  • 3. Do you think a Central Limit Order Book operating as a “Swap Execution Facility” will improve liquidity?
    • Yes, a central market improves liquidity by offering anonymous & transparent trading.
    • It will take time to adopt
    • No it will impair market behaviour
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  • 4. Do you have a readiness plan (regulation, compliance & process) for the upcoming changes?
    • Yes we have suitable project committees in place
    • We are planning to start in 2012
    • No but we need to do something
    Cross-Tab Label 0 / 40
  • 5. Will Central Counterparty service providers (Clearing Houses) become too big to fail?
    • No, this is a proven and trusted model of risk management
    • It depends on controls, governance and reporting
    • Yes, we are just moving the problem down the chain
    • I don ’t have an opinion
    Cross-Tab Label 0 / 40
  • 6. Do you think this regulatory change will represent a positive return on investment and that cost benefits are understood in the long term?
    • It’ s going to happen no matter what the cost
    • We will undertake our own justification as requirements become clear
    • The industry has not undertaken a cost/benefits review
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