Asian and European banks registered as US swap dealers this week, joining Wall St. rivals in complying with new rules that aim to shed light on the opaque US$650 trillion derivatives market.
Deutsche Bank, Commerzbank, Societe Generale, BNP Paribas and Nomura were among the swap dealers listed in the registry of the National Futures Association (NFA), a US regulator.
But large energy traders such as Royal Dutch Shell, Cargill and Glencore were conspicuously absent from the list, a sign of how the market is dominated by investment banks that largely serve speculators.
In 2009, the world\'s largest countries agreed to clamp down on the unregulated swaps market, which has been blamed as a major contributor to the global financial crisis.
Deutsche Bank, Commerzbank, Societe Generale, BNP Paribas and Nomura were among the swap dealers listed in the registry of the National Futures Association (NFA), a US regulator.
But large energy traders such as Royal Dutch Shell, Cargill and Glencore were conspicuously absent from the list, a sign of how the market is dominated by investment banks that largely serve speculators.
In 2009, the world\'s largest countries agreed to clamp down on the unregulated swaps market, which has been blamed as a major contributor to the global financial crisis.