The derivatives industry is set to be stung by technology costs of up to $3.4bn this year as the market adapts to new clearing and reporting requirements, according to new research, in the latest sign of the growing financial impact of the swathe of post-crisis regulation.

Infrastructure costs within the over-the-counter derivatives markets will rise dramatically, according to the US-based research Tabb Group, as market players move to comply with new legislation mandating electronic trading, clearing and reporting of derivatives trades.