New York, NY, March 27, 2008 – The Securities Industry and Financial Markets Association’s (SIFMA’s) Asset Management Group (AMG) is part of a letter of agreement that was signed by the senior managers of 17 major derivatives dealers (Major Dealers).  The agreement serves as an update to the Federal Reserve Bank of New York and other regulators and outlines goals, strategies and major benchmarks toward the continued improvement and streamlining of operational efficiency within the credit and equities derivatives markets.

This agreement is a continuation of the work of the Operations Management Group (OMG) that is tasked with leading fundamental change in front-to-back processes across Over-the-Counter (OTC) derivatives.  The Federal Reserve Bank of New York has taken the lead in improving operations and efficiency in the derivatives market which is important to its overall scaling up and growth.   

“SIFMA and AMG are committed to advancing true operational ...   more »