The International Organisation of Securities Commissions (Iosco) has launched an information repository for central clearing requirements for OTC derivatives.
The repository will provide regulators and market participants with consolidated information on the clearing requirements of different jurisdictions, Iosco said.
“By providing this information, we seek to assist authorities in their rule-making and help participants comply with the relevant regulations in the OTC derivatives market,” Iosco said.
“The repository sets out central clearing requirements on a product-by-product level, and any exemptions from them.”
The repository, which will be updated quarterly, was established in February this year. Until now it has been available only to Iosco members. Iosco said it has since gained sufficient experience, and gathered enough information on central clearing requirements, to open the repository to the public.
“The information in the repository is for reference only. Interested parties should refer to the original version of the relevant laws and regulations,” Iosco said.
Mandatory clearing
In February 2012, Iosco released the report Requirements for Mandatory Clearing in response to the G20 commitment to ensure that all standardised OTC derivatives contracts were cleared through central counterparties by the end of 2012.
The report recommended that authorities communicate with one another regarding the implementation of mandatory clearing within their own jurisdictions and encouraged Iosco to explore the establishment of a central information repository to consolidate that information.
Click here to download the June version of the information repository and here to download the report on requirements for mandatory clearing.