Exchange leaders seek coordinated rules for OTC derivatives

04/20/2010 | MarketWatch

A group of exchange operators from around the world asked regulators to coordinate rules for over-the-counter derivatives on a global basis to prevent arbitrage. The sector said the model should resemble the exchange model because it weathered the crisis well, while off-exchange instruments experienced liquidity issues. "The world's derivatives exchanges and clearinghouses proved their mettle during the financial crisis, but that was not necessarily the case in the largely unregulated off-exchange markets," said Ravi Narain, CEO of the National Stock Exchange of India.

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