RT @FinStbBoard: To support the continued transition from #LIBOR and adoption of overnight risk-free, or nearly risk-free rates, we have pu…
ISDA Wed 02 Jun 2021 15:33

That concludes our #virtual #Derivatives #Trading Forum - thanks to all of you for joining us today. @ISDAConferences would especially like to thank Quantile Technologies and @Tradeweb for supporting the event
ISDA Wed 28 Apr 2021 16:46

You would be hard pressed to do better than the standardized approach, but I don’t believe it’s as good for very active and sophisticated trading activities, says Hany Farag @cibc @ISDAConferences
ISDA Wed 28 Apr 2021 16:31

Standardized approaches should be approached constructively - there will always be a place for internal models, but the standardized approach gives us a very unique opportunity to bring a common consensus to risk management, says Quantile's Tobias Becker @ISDAConferences
ISDA Wed 28 Apr 2021 16:16

The final #Basel capital framework will place greater importance on standardized approaches & all banks will be expected to calculate #capital requirements on this basis. Quantile Technologies, Bank of America and @cibc discuss the impacts @ISDAConferences
ISDA Wed 28 Apr 2021 15:56

We would encourage the SEC to leverage the existing technology and infrastructure as they finalize and implement the SEF rules for security-based swaps, says Doug Friedman @Tradeweb, speaking at the #Derivatives Trading Forum: #Regulatory Change
ISDA Wed 28 Apr 2021 15:41

We hope to have a legislative framework in place by mid-2022 to give prospective operators of a consolidated tape the certainty they need to get offerings off the ground, says Tilman Lüder @EU_Commission
ISDA Wed 28 Apr 2021 15:01

I think maybe for SONIA there will be a clearing obligation because that’s the most liquid RFR market. I can’t really see it for SOFR or €STR at the moment, although people might clear voluntarily, says Tilman Lüder @EU_Commission
ISDA Wed 28 Apr 2021 14:56

The real challenge with LIBOR replacement is the phase-in of new risk-free rates, says Tilman Lüder @EU_Commission. Whether they are term rates or compounded in arrears, how do we embed RFRs in derivatives markets?
ISDA Wed 28 Apr 2021 14:51

If you really want transparency on what’s happening in standardized derivatives market, you need to put them on a consolidated tape and the tape could be one of our responses to fragmentation because it brings the data back together, says Tilman Lüder @EU_Commission
ISDA Wed 28 Apr 2021 14:46

We acknowledge issues have emerged in trading between EU and UK entities as a result of Brexit. For example, EU banks that have branches in the UK no longer have access to their UK counterparties. However, there are political constraints on the solutions, says Tilman Lüder
ISDA Wed 28 Apr 2021 14:46

ISDA welcomes Tilman Lüder, head of securities markets, DG FISMA, @EU_Commission, in conversation with ISDA’s Steven Kennedy @ISDAConferences
ISDA Wed 28 Apr 2021 14:31

US dollar LIBOR will likely be replaced by multiple rates – SOFR, a forward-looking SOFR term rate and credit-sensitive rates where appropriate. It’s unrealistic to think a one-size-fits-all approach makes sense, says Thomas Pluta @jpmorgan @ISDAConferences
ISDA Wed 28 Apr 2021 14:26

Since the ARRC announced that it is not yet able to recommend a forward-looking SOFR term rate, client interest in credit-sensitive rates has increased, says Thomas Pluta @jpmorgan @ISDAConferences
ISDA Wed 28 Apr 2021 14:21

SONIA has benefitted from being the incumbent RFR in a smaller market than others, so it’s not surprising that transition has progressed quickly in the UK, perhaps with fewer challenges than in some other markets, says Quantile’s Edward Ocampo @ISDAConferences
ISDA Wed 28 Apr 2021 13:46

With a clear timetable now set for LIBOR’s future, what implications will this have for #trading strategies and popular #LIBOR-based products? Find out during our first panel with @Citi, @MetLife, @Tradeweb, Quantile Technologies and @jpmorgan @ISDAConferences
ISDA Wed 28 Apr 2021 13:36

The SEC has not adopted regulatory requirements for trading on SEFs but we did issue a proposal in 2011 and reopened it for comment in 2013. Given developments since, we might want to reopen the comment period again before moving to a final rule, says @HesterPeirce
ISDA Wed 28 Apr 2021 13:36

Global markets remain overly reliant on a benchmark that will shortly no longer exist. This is neither desirable nor sustainable, says @HesterPeirce @ISDAConferences
ISDA Wed 28 Apr 2021 13:31

Outside of the main dealers, many market participants are not as far along with confronting and addressing LIBOR transition. The SEC is watching closely to ensure everyone is dealing with the risks and challenges this presents, says @HesterPeirce @ISDAConferences
ISDA Wed 28 Apr 2021 13:26

ISDA welcomes @SEC_News commissioner @HesterPeirce for a keynote address at the virtual #Derivatives #Trading Forum @ISDAConferences
ISDA Wed 28 Apr 2021 13:16

As EU and UK #trading venue rules are almost identical, there seems no reason why equivalence should not be possible, says ISDA CEO @ScottOMalia
ISDA Wed 28 Apr 2021 13:11

Analysis of SEF trading volumes so far in 2021 shows they have already captured a large chunk of euro- and sterling-denominated interest rate derivatives trading, says ISDA CEO @ScottOMalia @ISDAConferences
ISDA Wed 28 Apr 2021 13:11

In Europe, we have seen in recent months just how quickly a lack of equivalence can cause liquidity to fragment. With no trading venue equivalence in place between the EU and UK, in-scope trades between EU and UK counterparties can only take place on US SEFs, says @ScottOMalia
ISDA Wed 28 Apr 2021 13:11

ISDA has always made the case for alignment between the #CFTC and the #SEC rule sets. We look forward to working with the SEC and market participants to implement the rules for trading security-based swaps without risking market fragmentation, says ISDA CEO @ScottOMalia
ISDA Wed 28 Apr 2021 13:11

All too often since the financial crisis, regulations with identical objectives have differed in substance, scope and timing across jurisdictions. This can quickly lead to inefficiencies, higher costs and increased risk, says ISDA CEO @ScottOMalia @ISDAConferences
ISDA Wed 28 Apr 2021 13:11