The OTC Derivatives Supervisors Group (ODSG) originated in 2005, when the New York Fed hosted a meeting with representatives of major over-the-counter (OTC) derivatives market participants and their domestic and international supervisors, in order to address the emerging risks of inadequate infrastructure for the rapidly growing market in credit derivatives. The group is chaired by the New York Fed and meets annually with other supervisors and signatories to a series of "commitment letters". Commitments made by signatories signify their collective agreement to work with other signatories and their counterparties (whether signatories or not) to deliver structural improvements to the OTC derivatives market across asset classes in the interest of financial stability. The ODSG works directly with market participants via the ISDA© Industry Governance Committee to plan, monitor, and coordinate industry progress against collective commitments made by firms.

ISDA© Industry Governance Committee