GDP and the search for happiness
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Abstract
At the G-20 top leaders summit in Pittsburgh in 2009 was proposed the reform of the derivatives market, by obliging to settle centrally most standardized derivative contracts that are traded OTC. Because it was admitted that OTC transactions had a significant impact on the spread of the financial crisis and require greater control. As a result, the United States has been introduced the Dodd-Frank Act, and the European Un-ion adopted the regulation EMIR on derivatives traded OTC, central counterparties and trade repositories. The article includes an economic analysis of the law adopted in financial market regulation, with particular emphasis on the institutions of central counterparties and transactions repositories.
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