European Swaps Regulation - Comment Letter - Managed Funds Association - November 11, 2010
MFA's Response to Proposed Regulation of OTC Derivatives, Central Counterparties, and Trade Repositories
November 11, 2010
From the comment letter:
"Managed Funds Association (“MFA”) strongly supports the European Union’s efforts to promote central clearing and thereby 'increase transparency of the derivatives market, reduce counterparty and operational risk in trading and enhance market integrity and oversight' as set forth in the European Commission's ('Commission') Proposal for a Regulation of the European Parliament and of the Council on OTC Derivatives, Central Counterparties and Trade Repositories (the 'Proposal'). As active participants in the over-the-counter ('OTC') derivatives market, MFA members have a strong interest in promoting its integrity and proper functioning. We also believe that a well-functioning OTC derivatives market is essential to the restoration of capital flows, given its critical role in the investment and risk management activities of many market participants. In this spirit, we offer our comments to help bolster the effectiveness of the Proposal and minimize any adverse impacts or unintended consequences in its implementation."