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...