International Swaps and Derivatives Association

Market Infrastructure

Treasurers and the Libor ‘Pre-Cessation’ Trigger

By CorporateTreasurer | 20/08/2019

Financial firms can’t seem to come to an agreement on the unofficial “pre-cessation” trigger that will signal the beginning of the end for Libor. Meanwhile, SOFR faces some controversy.

Market Infrastructure

ISDA Consultation on LIBOR Pre-Cessation Reveals Mixed Results

By Editors | 12/08/2019

ISDA received responses from 89 entities expressing a “wide variety of views” on whether and how to implement a pre-cessation trigger, with no clear majority for any approach.

Market Infrastructure

ISDA Begins Review of Post-trade Services

By Editors | 09/08/2019

ISDA is conducting targeted surveys to identify opportunities for greater automation, reduced operational risk and lower costs in post-trade services.

Market Infrastructure

LIBOR Transition Presents Opportunity to Gain Market Share

By Matthieu Sachot | 08/08/2019

Financial institutions should be treating the LIBOR transition as an opportunity to strengthen client relationships and win market share, says Matthieu Sachot at Chappuis Halder & Co.

Market Infrastructure

ISDA Unveils Preliminary Results of 2nd IBOR Fallbacks Consultation

By Manesh Samtani | 31/07/2019

For USD LIBOR, HIBOR and CDOR fallbacks, respondents prefer ‘compounded setting in arrears’ for the adjusted RFR and the ‘historical mean/median approach’ for spread adjustments.

Market Infrastructure

BCBS, IOSCO Agree One-year Phased Extension of Initial Margin Rules

By Editors | 23/07/2019

Initial margin requirements for firms with uncleared derivatives exceeding $8bn have been extended to September 2021; firms exceeding a $50bn threshold will have to comply in September 2020.

Market Infrastructure

BOJ Publishes Consultation on JPY Interest Rate Benchmarks

By Editors | 03/07/2019

The consultation paper presents and evaluates five options that can be used as alternative benchmarks upon transition and as fallback replacement benchmarks.

Market Infrastructure

ISDA Calls for Consistency in Implementation of Margin Rules

By Manesh Samtani | 18/06/2019

In order to maximise efficiency, minimise risk and reduce market fragmentation, national regulators must strive for harmonised margin requirements across the globe, ISDA says.

Market Infrastructure

ISDA Chief Urges Accounting Bodies to Prioritise Benchmark Reform

By Editors | 12/06/2019

ISDA chief Scott O’Malia says market participants need clarity from the IASB and FASB on the accounting implications of a switch from IBORs to RFRs.