OTC Derivatives Regulatory Reform in Japan : FSA Reveals More Details

On 26 December 2011, the Financial Services Agency's OTC Derivatives Regulation Review Panel released a report on the issues it discussed regarding trading in over-the-counter (OTC) derivatives, namely the mandatory use of central counterparties (CCP), the obligation to store and report trading information, and the requirement to trade using electronic trading platforms (ETPs). The FSA plans to formulate a Cabinet Office Ordinance detailing the requirements for clearing through a CCP and storing and reporting trading information, while also further revising Financial Instruments and Exchange Act to spell out the requirement for ETP trading