Regulations have cut the number of derivatives clearing firms.
TP Icap has made its first acquisition since the completion of its merger.
Firms will not be able to trade if documentation is not completed.
Uncleared margin rules are driving derivatives into central clearing.
MiFID II requires OTC derivatives to have a product reference number.
New margin requirements for bilateral instruments will make exchange-traded derivatives more attractive.
High-touch OTC trading remains firmly entrenched.
BIS says new regulations could change derivatives trading.
MiFID II could further fragment global liquidity.