External Meetings: Eurofi Financial Forum 2010 (Panel)

The meeting was held at the Flagey Center in Brussels, Belgium as part of the Eurofi Financial Forum 2010. In addition to the above list, an audience of aproximately 200 atendees listened to the panel discussion. Topics discussed included the importance of transparency and a trade execution requirement for 'standardized' OTC derivatives and common requirements under Dodd-Frank and the European Commission's legislative proposal from September 15, 2010 on OTC derivatives clearing and reporting. Industry participants and regulators debated the need for further transparency in OTC derivatives markets, and the potential negative effects (i.e., diminished liquidity) that could result. Participants also discussed the effect that heightened risk management standards and governance requirements could have on clearinghouses. Certain participants were interested in ensuring that the process for determining which types of derivatives are required to be cleared is coordinated between the US and EU.