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OTC Derivatives: a Victory or a Battle Lost?

Even if corporate treasurers obtain the exemption of OTC derivative reform from the EMIR (European Market Infrastructure Regulation), as we all might reasonably expect, this temporary victory could hide the ineluctable future of the derivative market.

Realistically, we can see that derivatives will become more and more expensive over time and that we will have more administration to deal with the various types of financial instruments. The most prudent treasurers would be tempted to say that it would be better to wait for the final outcome of this key reform before shouting ‘victory’.

Key Points

  • Cost of hedging transactions
  • Basel III
  • The ultimate effects of CRD IV

 

Written by

François Masquelier
Head of Corporate Finance and Treasury, RTL Group, and Honorary Chairman of the European Association of Corporate Treasurers
RTL Group

Tax & Accounting Series (15 articles)

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