The annual Bürgenstock Meetings have indeed become a unique gathering of representatives of a number of relevant market participants – exchanges, clearing organizations, banks, brokerage entities, servicing institutions and industry associations – as well as regulatory agencies from all over the world.
Today, I would like to share with you my reflections on what we have learned about credit derivatives since this business took off, on some of the weaknesses of these markets, particularly those that have become evident in the past few years, and on the measures that should contribute to strengthening these markets.