New rules designed to kill OTC market, says European regulator


Rule-makers have developed new derivatives regulation with the intention of killing off the over-the-counter derivatives market in its current form, according to Giuseppe Insalaco, senior adviser on clearing and settlement regulation at the Central Bank of Ireland.

Speaking during a panel discussion at the Risk OTC Derivatives Clearing Summit Europe in London earlier this week, Insalaco was asked by a fellow panellist whether the reforms had been designed specifically to kill off the OTC market.