Operations Management Group Sends Letter to New York Fed Regarding Industry Efforts to Increase Transparency in OTC Derivatives Market

  • OMG Letter outlined goals for derivatives dealers and trade associations for 2008, including:
  • Expanded use of electronic confirmation platforms.
  • Development of trade associations’ goal implementation plans.
  • Major dealers and buy-side institutions to meet submission, matching and accuracy targets.
  • Having most major dealers live for central settlement.
  • Submission of novation requests via electronic platforms rather than email.

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