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Securities / Derivatives
US, UK Agencies Work to Clean Up Credit Derivatives Market
By Editors | 24/09/2019
In a joint statement, the SEC, CFTC and FCA have pledged to work together to address “opportunistic strategies” that harm the credit derivatives market.
Market Infrastructure
ISDA Issues Guidance on Executing Trades on Recognised Venues
By Editors | 23/09/2019
The guides describe how cross-border trading will work following the CFTC-MAS, CFTC-FSA and EC-MAS agreements on mutual recognition of derivatives trading venues.
Market Infrastructure
ISDA Consults on Final Parameters for Benchmark Fallback Adjustments
By Manesh Samtani | 19/09/2019
Based on the results, the 2006 ISDA Definitions will be adjusted to incorporate fallbacks for new IBOR trades, and a protocol for including fallbacks in legacy IBOR contracts will be published.
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.
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