Over-the-Counter, Under the Radar
The ability to uniquely and precisely identify financial instruments is essential for risk management and straight-through processing (STP). For most securities types, the development of the International Securities Identification Number (ISIN) has helped greatly to achieve those goals. However, one area of the market that continues to resist common approaches to instrument identification, and which is the focus of renewed attention from regulators, is over-the-counter derivatives.
The
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