Taiwan's Gretai Securities Market to set up trade repository
Taiwan's Financial Supervisory Commission wants Gretai Securities Market to run an OTC trade repository for all asset classes. The move comes as large dealers fear a proliferation of new repositories in Asia will place an undue reporting burden on their derivatives businesses
Gretai Securities Market (GTSM), the exchange and industry-backed interest rate and bond derivatives exchange in Taiwan, is seeking market views on a proposal to set up a trade repository through expanding its coverage to all over-the-counter (OTC) asset classes and market participants starting in 2012.
Market participants say Taiwan, which has an OTC exchange that requires trading members declare their positions already, could steal a march in the region for implementing a meaningful trade
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