For the over-the-counter derivatives markets the signing into law of the Dodd-Frank Wall Street Reform and Consumer Protection Act last month was a watershed moment.
Although the ultimate intention of the new regulations is to make the financial markets sufficiently robust and secure to avoid the systemic failure of the biggest financial institutions, they might also ultimately lead to a break-up of an oligopoly that has been Wall Street’s most lucrative business line for the past 15 years.
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