The Committee of European Securities Regulators (CESR) has published a Consultation Paper, Trade repositories in the European Union.
The purpose of the consultation is to collect views on trade repositories, including their functions, data and transparency requirements, their location and the legal framework within which they should operate.
CESR’s initial position is that the establishment of one or more trade repositories should be market-led. It does not want to impose trading of all credit default swaps (CDS), nor other over-the-counter (OTC) instruments in general, on regulated markets.
The deadline for comments on the Consultation Paper is 6 November 2009.
View Trade repositories in the European Union, 29 September 2009