International trading needs global oversight

On September 23, William Dudley, President of the Federal Reserve Bank of New York, delivered a speech in which he argued that reform of the derivatives market will require “mutually consistent global standards.”

However, good intentions may have fallen prey to a lack of international cooperation, reports the Financial Times.

Related: Dudley’s speech on financial stability and economic growth delivered at the 2011 Bretton Woods Committee International Council meeting.

 

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