The OTC derivatives markets are undergoing significant change globally as a result of Title VII of Dodd-Frank, MiFID II, EMIR and reforms in other jurisdictions. In particular, many OTC derivatives are moving to a centrally cleared environment and the manner in which financial institutions deal with their clients and take collateral will undergo various structural changes. This note is intended for all buy-side participants and corporates which use derivatives in their businesses. Various key aspects of the reforms that warrant particular attention are highlighted.View full memo, "Alert: Actions required in light of Derivatives Reforms"