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A green light doesn't mean go for swaps clearing

European Commission nod is just the first step for post-crisis derivatives reforms in Europe

A green light doesn't mean go for swaps clearing
Photo: Getty Images

Just because 20 of the world’s most powerful people want something to happen does not mean it will happen.

Leaders of the G20 said in 2009 that to help prevent another financial crisis they wanted the world's over-the-counter derivatives - traded largely in private between banks - to be reported and run through clearing houses so risks could be reduced and measured.

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