The International Organization of Securities Commissions issued risk mitigation standards for non-centrally cleared over-the-counter derivatives that should be imposed by regulators in their jurisdictions. These standards include recommendations related to the handling of trading relationship documentation; the confirmation of transactions; the valuation of transactions with counterparties from the time of execution to termination; reconciliation; portfolio compression; and dispute resolution. IOSCO also recommended that regulators “should interact so as to minimise inconsistencies in risk mitigation requirements for non-centrally cleared OTC derivatives across jurisdictions.” Imposition of these standards are necessary, claimed IOSCO, to help promote legal certainty and resolve disputes timely; to help manage counterparty credit and other risks; and to augment overall financial stability.