Expansion of OTC Derivatives in Emerging Markets (1995-2015)

1. Early liberalization opens emerging-market derivatives access

   Jan 1, 1995Labels: Capital liberalization, OTC derivatives, Emerging markets

   • BIS Press
   • BCBS History

2. Basel market-risk rules accelerate dealer derivatives activity

   Jan 1, 1996Labels: Basel Committee, Market Risk, International banks

   • BCBS History
   • BIS Press

3. Asian financial crisis highlights FX-hedging demand

   Jul 1, 1997Labels: Asian financial, FX hedging, Corporates

   • IMF Korea WP
   • IMF Thailand LOI

4. ISDA EMU Protocol demonstrates scalable documentation fixes

   May 6, 1998Labels: ISDA, EMU Protocol, Legal standardization

   • ISDA EMU

5. BIS reports rapid late-1990s OTC market expansion

   Dec 31, 1998Labels: Bank for, OTC market, Dealer networks

   • BIS Press

6. Brazil’s 1999 currency shock reinforces derivatives hedging

   Jan 1, 1999Labels: Brazil currency, Corporate hedging, Latin America

   • Fed FEDS
   • BIS Press

7. Argentina crisis shows sovereign and convertibility risks

   Dec 23, 2001Labels: Argentina crisis, Sovereign risk, Currency convertibility

   • IMF OP217
   • FRBSF 2002

8. ISDA publishes 2002 Master Agreement update

   Jan 1, 2002Labels: ISDA Master, Legal documentation, Close-out rules

   • ISDA 2002
   • ISDA Protocol

9. BIS survey shows OTC derivatives turnover jump by 2004

   Apr 1, 2004Labels: BIS Triennial, OTC turnover, FX markets

   • ECB BIS 2004
   • BIS Survey

10. DTCC launches Trade Information Warehouse for CDS records

    Jan 1, 2006Labels: DTCC, Trade Information, Credit default

    • DTCC TIW
    • Finextra 2006

11. Global financial crisis exposes OTC opacity and counterparty risk

    Sep 15, 2008Labels: Global financial, Counterparty risk, OTC opacity

    • BIS NDFs
    • EU EMIR Brief

12. G20 commits to central clearing and trade reporting

    Sep 25, 2009Labels: G20 Pittsburgh, Central clearing, Trade reporting

    • UK EMIR Brief
    • EU EP Brief

13. Dodd-Frank Title VII launches US swaps regulatory framework

    Jul 21, 2010Labels: Dodd-Frank, US swaps, Cross-border impact

    • Congress CRS

14. Industry endorsement accelerates multi-asset trade repositories

    Jan 1, 2011Labels: DTCC, Trade repositories, Multi-asset

    • DTCC Timeline
    • DTCC TIW

15. EMIR adopted, setting EU reporting and clearing obligations

    Aug 16, 2012Labels: EMIR, EU regulation, Central clearing

    • UK EMIR Brief
    • EP Brief

16. BIS 2013 survey notes emerging-market currency activity surge

    Apr 1, 2013Labels: BIS 2013, Emerging-market currencies, Trading concentration

    • BIS QReview
    • BIS Survey