Extraterritorial Challenges of Derivatives Regulation

We are moving towards the end 2012 deadline set by the G20 Leaders at the Pittsburgh summit in September 2009 for standardised derivative contracts to be traded on exchanges or electronic trading platforms where appropriate and to be cleared through central counterparties. Despite international efforts, in particular in the U.S. and the E.U., to comply with this objective, a huge amount of regulation and rule making still needs to be finalised for this objective to be met.