Icap says crackdown on OTC derivatives is right move

05/19/2009 | Financial Times (free content)

Last week, U.S. Treasury Secretary Timothy Geithner outlined proposals for boosting transparency in the market of over-the-counter derivatives. The move received a warm welcome from the largest interdealer broker in the world, Icap. CEO Michael Spencer said he was not surprised by the proposals. "I think it is just a directional push by the regulators to say, 'We want a broadly different approach from the OTC market,'" he said.

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