Alexander Justham spoke on the global agreement to reform OTC derivatives. He focused on G20 commitments to central clearing, reporting to trade repositories and the move to require more trading to take place on exchange or an organised platform. He said the UK is committed to help reform the markets but there must be international consistency. He discussed the importance of correctly defining an “organised trading platform” and regulatory recognition of mis-calibrated market intervention. He said industry engagement in the Markets in Financial Instruments and Market Abuse Directive revisions was critical. Finally, he outlined the UK’s support for many of the proposed changes to the commodity trading markets. (Source: Alexander Justham Speech on Market Reform)