Handel med derivater – del 2

Originally, there was only fragmented regulation relevant to trading in derivatives. It wasn’t until after the financial crisis that a regulatory focus emerged on mitigating the potential risks associated with extensive trading in derivatives. Legislators aimed to prevent systemic risks and enhance the ability of supervisory authorities to monitor market activity to ensure financial stability. The primary measures introduced to achieve financial stability included the implementation of a clearing obligation, a trading obligation, margin requirements, and a reporting obligation. The regulatory focus was particularly on OTC trading in general and specifically on short selling and trading in CDS. Derivatives trading by Danish investors is primarily regulated at the EU level. The key regulations that now affect investors wishing to trade derivatives can be found in EMIR, MiFID II, MiFIR, and the Short Selling Regulation. These regulatory frameworks are the main focus of this article although it also covers a range of other rules relevant to the derivatives market.