The Financial Stability Board (FSB) has published a report to the G20 Leaders summarising progress in over-the-counter (OTC) derivatives reforms. G20 Leaders agreed in 2009 to a comprehensive reform agenda to improve transparency in OTC derivative markets, mitigate systemic risk and protect against market abuse. The report finds that substantial progress has been made by standard-setting bodies, national and regional authorities and market participants toward meeting the G20 commitments. The report identifies successful international policy development, adoption of legislation and regulation, and expansion of infrastructure.