Latest ODSG letter shows dealer aims weakened by Dodd-Frank Act
Dealers say they have little appetite for voluntary change when facing big mandatory reforms
The largest 14 derivatives dealers have agreed a modest set of new voluntary commitments to standardise the over-the-counter market in their annual letter to regulators, as the industry focuses on the daunting task of complying with compulsory market reforms.
"These commitments were made in the knowledge that a very short distance down the road we will have to begin implementing the Dodd-Frank Act. I realise that is primarily a concern for US firms, but this year's commitment process is trying
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