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Big Picture
ISDA Calls for Common Standards in Derivatives, SFT Markets
By Editors | 05/10/2020
The development of common standards and taxonomies will facilitate automation and interoperability across derivatives and SFT markets.
Market Infrastructure
ISDA Receives Positive Business Review Letter from DOJ
By Manesh Samtani | 05/10/2020
The letter brings ISDA a step closer to publishing a supplement and related protocol that will make IBOR fallbacks in derivatives a reality.
Market Infrastructure
SONIA Quoting Conventions to be Adopted in UK Swaps Market
By Editors | 01/10/2020
Interdealer brokers should base quotes in the sterling swaps market on SONIA rather than LIBOR from 27 October, the FCA and BOE say.
Big Picture
IBOR Phase-out Plans on Track Despite Covid: Moody’s
By Manesh Samtani | 29/09/2020
But challenges remain, including limited liquidity in ARR markets, uncertainties on term rates and credit spread adjustments, and operational issues.
Capital / Liquidity
India Establishes Netting Certainty for Bilateral OTC Derivatives
By Manesh Samtani | 24/09/2020
Parliament passed a bill providing legal basis for bilateral netting of OTC derivatives contracts which are not centrally cleared.
Capital / Liquidity
ISDA, CCDC to Promote Global Use of China Bonds as Collateral
By Editors | 15/09/2020
ISDA and the CCDC will soon publish research making the case for yuan-denominated bonds to be used internationally as collateral.
Capital / Liquidity
ISDA Chief Urges Continued Work on Initial Margin Implementation
By Editors | 09/09/2020
Phase 5 implementation will be the most demanding phase yet, and firms will need to be ready well in advance to avoid a last-minute compliance bottleneck.
Market Infrastructure
Singapore: SOR Fallback Rate to Only be Available Temporarily
By Manesh Samtani | 01/09/2020
Fallback Rate (SOR), the primary fallback reference rate for SOR derivatives, will be permanently discontinued about three years following the fallback trigger.
Securities / Derivatives
ISDA Calls for Global Alignment in UPI, UTI Implementation
By Manesh Samtani | 25/08/2020
ISDA is urging the FSB to “intensify monitoring and coordination of jurisdictional alignment” to the global UTI, UPI and CDE recommendations.
Market Infrastructure
Japan Proposes Mid-2021 Cut-off on New LIBOR Loans, Bonds
By Manesh Samtani | 10/08/2020
Feedback is sought on fallbacks for cash products referencing JPY LIBOR. Under the plan, issuance of new LIBOR based loans and bonds will cease by mid-2021.
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