New York Fed to set up working group on OTC reforms

Market participants in the over-the-counter derivatives markets have agreed to form a working group with market supervisors to push through overdue reforms in OTC markets.

The New York Federal Reserve on Tuesday said major market participants in its OTC Derivatives Supervisors Group (ODSG) had agreed to a strategic roadmap to support ongoing efforts to bring improvements and risk reduction in global OTC derivatives markets. The regional Fed said in order to ensure that discussions within the gro