Timpel: derivatives clearing

The G20 has agreed that OTC derivatives contracts should, if sufficiently standardised, be moved to CCPs and be reported to trade repositories. The Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) are currently providing guidance on how OTC derivatives' CCPs and trade repositories may increase their resilience. The European Commission will propose European Market Infrastructure Legislation that will establish EU legislative frameworks for CCPs and trade repositories.