Brexit has reshaped the derivatives landscape, with the share of euro IRS on European venues climbing from 6% in May last year to about 40% in Q1 this year, says Robert Ophèle @AMF_actu @ISDAConferences
ISDA Tue 29 Jun 2021 13:29

ISDA is delighted to welcome Robert Ophèle, chairman of France’s @AMF_actu, to give keynote remarks at the ISDA #Derivatives Trading Forum @ISDAConferences
ISDA Tue 29 Jun 2021 13:14

As countries across the globe continue to recover from the COVID pandemic, it is vital we do not unnecessarily introduce additional risks and costs. We therefore urge the EU and UK authorities to grant permanent equivalence to UK and EU CCPs, says @ScottOMalia @ISDAConferences
ISDA Tue 29 Jun 2021 13:14

Many firms may want to clear some or all of their exposures at EU CCPs, but we think market participants should be free to make that choice based on commercial, risk or other considerations, says @ScottOMalia @ISDAConferences
ISDA Tue 29 Jun 2021 13:09

Trading venue equivalence isn’t the only area of focus, however – the prospect of a forced relocation of #derivatives clearing from the UK to the EU poses a significant threat of disruption and fragmentation, says @ScottOMalia @ISDAConferences
ISDA Tue 29 Jun 2021 13:09

This is clearly a political issue, but we continue to think there’s a strong rationale for equivalence. Doing so is the best way to avoid fragmentation and ensure EU banks can maintain client business on UK venues, says @ScottOMalia @ISDAConferences
ISDA Tue 29 Jun 2021 13:09

Unfortunately, the lack of equivalence between EU/UK trading venues has made it much more difficult for entities in those jurisdictions to trade with each other in liquid swaps subject to the EU and UK #derivatives trading obligations, says @ScottOMalia @ISDAConferences
ISDA Tue 29 Jun 2021 13:09

Another lesson of the crisis was the stresses that can emerge when liquidity dries up. It’s therefore important we don’t create unnecessary barriers that restrict the ability of firms to tap into the widest possible pool of counterparties, says @ScottOMalia @ISDAConferences
ISDA Tue 29 Jun 2021 13:09

The crisis also highlighted issues that should be considered by regulators to ensure markets remain resilient, including the implications of the leverage ratio, usability of capital and liquidity buffers, and procyclicality of parts of the capital framework, says @ScottOMalia
ISDA Tue 29 Jun 2021 13:09

We think keeping markets open is essential to ensure critical payments and transactions can be fulfilled and firms are able to manage their exposures, says @ScottOMalia @ISDAConferences
ISDA Tue 29 Jun 2021 13:09

Derivatives markets and participants were much better placed to weather the crisis due to the regulatory reforms implemented over the past decade. But while markets and institutions were robust during the recent crisis, there are lessons that can be learned, says @ScottOMalia
ISDA Tue 29 Jun 2021 13:09

A recent report jointly published by ISDA shows financial institutions played a key role in helping the various central bank measures flow through to the real economy by extending credit to customers and providing intermediation and risk management services, says @ScottOMalia
ISDA Tue 29 Jun 2021 13:09

Action by central banks to pump trillions of dollars into the financial system helped to stabilize the situation and restore confidence to markets. But even during the worst of the volatility, the vast majority of financial markets remained open, says @ScottOMalia
ISDA Tue 29 Jun 2021 13:09

As the coronavirus outbreak evolved into a global pandemic, fears about the economic impact and a sudden dash for cash from corporates and investors caused markets to freefall and liquidity in certain sectors to dry up, says ISDA CEO @ScottOMalia in his opening remarks
ISDA Tue 29 Jun 2021 13:09

ISDA’s virtual #Derivatives Trading Forum is about to about to start, focusing on how trading desks and venues have adapted to events like #Brexit and the pandemic. Huge thanks to @Tradeweb for supporting the event @ISDAConferences
ISDA Tue 29 Jun 2021 13:04

On June 11, ISDA launched a consultation on how to implement fallbacks for certain swap rates published by @ICE_Markets Benchmark Administration. ISDA will host a webinar on June 23 to discuss consultation w/ @LinklatersLLP & @bankofengland. Register here: Link
ISDA Thu 17 Jun 2021 15:42

Between April and September 2020, @GoldmanSachs led several data modeling efforts as part of the FINOS Legend Studio Pilot to develop extensions to the Common Domain Model (CDM). Read the case study below. Link
ISDA Wed 16 Jun 2021 17:57

The draft Futures Law published in China on April 29 expressly recognizes the enforceability of netting in OTC derivatives transactions during bankruptcy proceedings. This is enormously significant and could mark a turning point in China’s derivatives market, says @ScottOMalia
ISDA Thu 03 Jun 2021 09:24

It is now more important than ever to have a robust and predictable legal framework in place, which must include enforceable rules on close-out netting and related collateral arrangements, says @ScottOMalia
ISDA Thu 03 Jun 2021 09:24

The derivatives market adds fundamental value by allowing companies to transfer risks appropriately, which creates the certainty that is needed for economies to prosper, says @ScottOMalia
ISDA Thu 03 Jun 2021 09:24

As the Chinese market continues to open up and attract participants from all over the world, it is more important than ever that robust tools are available to enable institutions to effectively manage their risk, says @ScottOMalia
ISDA Thu 03 Jun 2021 09:24

The report recognizes the importance of close-out netting in enabling parties to mitigate the credit risk associated with derivatives. Lack of netting enforceability has increased Chinese firms’ transaction costs and, to some degree, restricted use of Chinese govt bonds as IM
ISDA Thu 03 Jun 2021 09:19

ISDA recently published a paper in collaboration with the CCDC that provides detailed analysis of the legal, regulatory and market structure issues that arise from the use of Chinese government bonds as collateral Link
ISDA Thu 03 Jun 2021 09:19

Given the rapid growth and liberalization of China’s bond market in recent years, many firms are keen to explore the use of Chinese government bonds as initial margin for non-cleared derivatives, says @ScottOMalia
ISDA Thu 03 Jun 2021 09:19

ISDA CEO @ScottOMalia is delivering introductory remarks at an online workshop on the cross-border use of RMB bonds as collateral, hosted by @cityoflondon and the China Central Depository & Clearing Co
ISDA Thu 03 Jun 2021 09:19