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By Laurent COLLET, Partner and Kevin DEMEYER, Director at Deloitte Luxembourg
A decade of regulations to enhance derivates market integrity
Risks associated with Over the Counter (OTC) derivatives trades, including systemic, counterparty credit and operational risk were in the spotlight of regulators following the 2008 global financial crisis. In response, a global framework for reporting requirements was created, and the European Market Infrastructure Regulation(1) (EMIR) was introduced in Europe by the European Parliament, requiring all firms engaging in derivatives contracts to report the transactions. The objective was to increase transparency and identify any systemic risks linked to these transactions...
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