BlackRock[see profile] is teaming up with CME Group, the derivatives exchange, and with Google to create the first electronic “dictionary” defining derivatives and other financial instruments universally, the FT reports.

Regulators reportedly want the dictionary standardized to where it can be adopted by market participants universally via “computer-readable algorithmic descriptions” of derivatives, according to the Commodity Futures Trading Commission.

Scott O’Malia, a CFTC commissioner, told the pub that: “It’s about making sure that we have a common view of traders and markets so that across borders we can talk about the same people, so we in turn can identify what they are doing and who they are.” 

Edited by: Hung Tran


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