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Shearman & Sterling

Finance 2011

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Award levelStand-out
InnovationEstablishing the Depository Trust & Clearing Corporation repository for European over-the-counter derivatives
Originality7
Rationale7
Impact8
Total22
DescriptionRequiring a mixture of geopolitical negotiating skills and complex property-law expertise, the firm helped develop a key element of the Group of 20 nations’ plans to make financial markets safer and more transparent. Most of more than $6,000bn-worth (€4,400bn) of European derivatives are now being recorded by the system.