Attending a panel discussion at the International Derivatives Expo 2012 in London – entitled “Getting Ready for OTC Clearing”. Someone asked about the outlook three years hence.
Half jokingly, one of the panelists suggested that we might be staring down the barrel of Dodd-Frank 2 and MiFID 3.
Another said it was impossible to predict – and that if someone had said three years ago there’d be a session today on implementing OTC clearing, that people would have thought the notion crazy.
That a conference like this is held under an agenda of massive regulatory change is surely a harbinger of challenges (and opportunities) ahead.
To adapt the Chinese proverb (or curse): we do indeed live in interesting times.
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