International Swaps and Derivatives Association

Market Infrastructure

ISDA Concludes Consultation on EUR LIBOR, EURIBOR Fallbacks

By Editors | 25/02/2020

Respondents selected the ‘compounded setting in arrears rate approach with a backward-shift adjustment’ and ‘five-year historical median approach to the spread adjustment’.

Capital / Liquidity

ISDA Publishes Uncleared Margin Implementation Project Checklist

By Editors | 21/02/2020

The checklist is suggested as a resource guide to highlight key implementation considerations for entities expecting to come into scope in September.

Market Infrastructure

ISDA to Re-consult on Pre-cessation Fallbacks This Month

By Editors | 06/02/2020

ISDA will consult on a single protocol that would allow participants to include both pre-cessation and permanent cessation fallbacks in derivatives trades.

Market Infrastructure

RBNZ Endorses Official Cash Rate as Fallback Benchmark

By Editors | 31/01/2020

New Zealand will operate a dual interest rate benchmark system, retaining the Bank Bill Benchmark Rate and using the OCR as its fallback.

Market Infrastructure

ISDA Welcomes Libor Pre-cessation Clarity from FCA, IBA

By Editors | 29/01/2020

The FCA has clarified that any period of non-representative LIBOR based on reduced panel bank submissions could last for only a period of months, not years.

Market Infrastructure

ISDA Chief Calls for Certainty on China Close-out Netting

By Manesh Samtani | 16/01/2020

The lack of legal certainty and judicial recognition on close-out netting can impede capital market development in China, impacting domestic FIs the most, ISDA’s Scott O’Malia said.

Fintech / Regtech

Legal Certainty Needed to Advance DLT Adoption in Derivatives

By Editors | 14/01/2020

ISDA, Clifford Chance, R3 and the Singapore Academy of Law have published a new whitepaper analysing the legal issues relating to the use of smart derivatives contracts on a distributed ledger.

Fintech / Regtech

UK Digital Regulatory Reporting Pilot Completes Phase Two

By Manesh Samtani | 10/01/2020

Phase two of the DRR pilot highlighted the importance of agreed data standards. An appropriate solution for producing machine-executable regulation has not yet been identified.

Market Infrastructure

ISDA Offers Guidance on Cross-Border Application of Margin Rules

By Editors | 08/01/2020

The guide seeks to help firms subject to margin rules analyse multiple foreign rule sets, identify situations in which different rules apply, and improve understanding on substituted compliance.