Dayanand Arora, Francis Rathinam, 11 May 2010

Over-the-counter derivatives were heavily involved in the spread of the global crisis. This column analyses the regulatory framework for such derivatives in India. It argues that moves to tighten the regulatory rope are unnecessary and that a shift to exchange-traded markets may not bring the desired results. Instead, policymakers should strive towards increased disclosure, more transparency, and more standardisation.

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