Abstract:

With the emergence of the existing global financial crisis at the beginning of 2008, it has been understood that new laws and regulations are required for the OTC markets. After the growth of the crisis without any delay and with the purpose of enhancing the reliability of these markets, many countries (primarily USA and EU countries) and some international organizations have immediately implemented new rules and regulations and studies have started in order to create an international supervision and audit standard and to form new audit/supervision authorities, to increase reporting facilities and to increase exchange of information on an international scale and also to set new standards for audit firms. Implementation of CCPs for counterparty credit risk mitigation and for facilitating the central monitoring for OTC markets is a crucial part of these efforts. By this study, an attempt has been made to give information and to analyze about CCPs and rules and regulations about related markets (Dodd-Frank, Wall Street Reform and Consumer Protection Act, European Market Infrastructure Regulation-EMIR) and the developments in our country.

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