A meeting at the New York Federal Reserve on Wednesday of the major players in the over-the-counter derivatives market culminated in a four-point agenda for the industry.

Participants from the dealers, the buy-side, industry groups, and supervisors and central banks gathered at Liberty Street to outline efforts to enhance the oft-criticised industry infrastructure.

The four points on which the attendees agreed were:

· to complete "hardwiring" the auction-based settlement mechanism for standard