Massad: don’t undo derivatives’ harmonisation efforts

Author: John Crabb | Published: 17 Jul 2018

Rulemakers in the US and across the globe must strive to maintain the stringent efforts to harmonise the regulations and processes governing the global financial markets that began after the last financial crisis, in 2008. A lot of progress has been made in the space and it is important that this is not undone by current administrations, especially in the area of clearing, according to former Commodity Futures Trading Commission (CFTC) chairman Timothy Massad.

Speaking at the NEX Conference in New York last month, Massad outlined his high degree of concern, given the widespread rise of international tensions. He drew attention to derivatives clearing houses in particular, a serious topic he said he was focused on before leaving office. The European Union has been threatening to force the relocation of clearing to the location that it is most systematically important. It would be more rational for traders and regulators to...