EU Agrees On OTC Derivatives Norms

Member states of the European Union have agreed to tighten regulation of over-the-counter derivatives contracts.

Member states of the European Union have agreed to tighten regulation of over-the-counter (OTC) derivatives contracts, The Wall Street Journal reports. The agreement awaits approval from the EU Parliament.

The move that faced initial resistance from the U.K., seeks to standardize all derivatives products not traded on a regulated exchange. The Group of Twenty countries have vowed to introduce legislation by the end of 2012.

Click here for the story from The Wall Street Journal.