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期货和衍生品行业监管动态

职调查。此外，虽然 PTRRS 在许多司法管辖区被广泛使用，但监管机构收到的

数据有限，且对 PTRRS 的直接监管十分有限或接近于零。

IOSCO 衍生品委员会（第 7 委员会）主席 Kevin Fine 表示：“PTRRS 在场外

衍生品市场的有效运作中发挥着越来越重要的作用。重要的是，IOSCO 要了解

使用 PTRRS 带来的好处和不断变化的风险，市场参与者在使用此类服务时面临

的挑战，以及是否有改进市场实践的方法。”

IOSCO 正在就报告中讨论的问题以及建议的合理做法征求市场参与者的意

见 。 对 征 求 意 见 报 告 的 反 馈 应 在 2024 年 4 月 1 日 或 之 前 发 送 至

toconsultation-01-2024@iosco.orgon。

IOSCO Seeks Feedback on Post Trade Risk Reduction Services (2024/1/26)

The Board of the International Organization of Securities Commissions (IOSCO)

today published a consultation report on Post Trade Risk Reduction Services (PTRRS),

which identifies potential policy considerations and risks associated with the use and

offering of PTRRS associated with over-the- counter (OTC) derivatives trades, and

presents sound practices as guidance to IOSCO members and regulated users of

PTRRS.

IOSCO is seeking to better assess the risks associated with the increased use of
PTRRS and concentration of PTRRS providers, particularly in the areas of portfolio

compression and counterparty risk optimisation.

The Consultation Report notes that PTRRS offer important benefits, including

post-trade operational efficiencies, reduction in counterparty risk and, potentially, an

overall reduction in systemic risk.

However, PTRRS may pose a number of challenges and risks. For instance, risks

relating to market concentration of service providers, a lack of transparency regarding

the algorithms used by providers, and a lack of meaningful due diligence by users of

PTRRS. Further, while PTRRS are widely used in many jurisdictions, there is limited

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