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Legal Research on the Regulation of OTC Derivatives in Developed Market and Suggestions to Chinese Legislation

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DOI: 10.38007/Proceedings.0001515

Author(s)

Jiawei Zhang

Corresponding Author

Jiawei Zhang

Abstract

The generation and development of financial derivatives are the result of the development of information technology and the interaction with the international financial market. In the past 30 years, international financial derivative products have developed rapidly in developed countries such as Europe and the United States, the market scale has expanded rapidly, and the transaction volume has also increased. However, due to the unrestrained encouragement of financial innovation by various countries in recent years, the scale of the international financial derivatives market has expanded rapidly, and the financial risks caused by its leverage effect have also multiplied. Therefore, it is very necessary to impose necessary supervision and regulation on financial derivatives by reasonable legal means, and to control their potential risks to the greatest extent. China's financial derivatives appeared relatively late, the market maturity is still in continuous improvement, and there are many problems. In this context, actively introducing and learning from developed countries' financial derivative product supervision models and experiences, and constantly improving relevant laws and regulations, are crucial to the innovation and development of my country's financial market.

Keywords

OTC Derivatives; Dodd-Frank Act; The Legal Supervision Issues of Derivatives