Regulators have begun tackling a series of long-standing issues in the derivatives market, including the thorny issue of identifiers, prompting hopes that 2016 may bring agreement on common standards.

The International Organization of Securities Commissions, an umbrella organisation of markets regulators, published a consultation alongside the Bank for International Settlements' Committee on Payments and Market Infrastructures on December 17, on how to standardise the generation of key identifiers used in trade reports.