Publications

Negotiating FCM Client-Account Agreements for Cleared OTC Derivatives

July 14, 2011
Thomson Reuters Accelus

The impact of The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) on the financial services industry in the United States can only be described as seismic. A cornerstone of Dodd-Frank is the regulation of the over the counter (OTC) derivatives market. Title VII of Dodd-Frank attempts to address concerns about the significant role played by OTC credit default swaps in the failures and near-failures of several financial institutions by imposing a series of requirements on OTC derivatives designed to increase transparency and liquidity and decrease systemic risk caused by counterparty default risk.