The Dodd-Frank Wall Street Reform and Consumer Protection Act creates a comprehensive framework for regulating derivatives markets, principally what has been an over-the-counter market for complex products such as credit default swaps.
The framework is covered in Title VII of the legislation.
Most of these OTC contracts now will be traded in regulated exchanges or similar facilities.
What acronyms will you need to keep track of as clearing of what can be considered exchange-traded swaps starts up?
Heres one answer. The list comes from Mike Mykytiw, Executive Director and Senior Accounting Product Manager, Worldwide Securities Services, J.P. Morgan, speaking at NICSAs 30th Annual Conference and Expo this week in Miami.