The Committee of European Securities Regulators (Cesr) has backed European Commission (EC) plans to compel transaction reporting on over-the-counter derivatives.
In a response to the EC's consultation document on the resilience of OTC derivatives markets, Cesr said transaction reports will be exchanged through its own Transaction Reporting Exchange Mechanism (Trem). At this stage, only those OTC derivatives with an exchange-traded underlying will be considered.
In its communication, Cesr propose
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