Law360, New York (November 02, 2009, 1:46 PM ET) -- Not all markets are alike. Policymakers must understand how markets differ before they create and impose a one-size-fits-all market structure on all OTC derivatives markets. Otherwise, existing markets will be negatively affected — for which the policymakers must accept responsibility.
Electric utilities and other end-users of OTC derivatives are not saying, "Don't regulate the credit default swap markets” or any of the other markets that policymakers have reason to believe caused the 2008 economic crisis.
Nor are they saying, "Don't require more reporting/market transparency/price discovery information...
Regulatory 'Round Holes' In OTC Derivatives Markets
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