The European Union could follow the US in adopting the system of trade repositories for registering trades in credit default swaps. This move “could cast light on over-the-counter markets in these derivatives”, says Eddy Wymeersch, head of Cesr, the Paris-based Committee of European Securities Regulators.

“The set of the European version of the repository [data warehouse] and the type of services provided will depend on the market participants,” he adds.