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Market Infrastructure
ISDA Proposes Further Definition Changes to Improve CDS Market
By Editors | 29/05/2019
The new proposal will amend the definition of “Outstanding Principal Balance”, which determines the principal amount of a bond or loan that must be delivered to physically settle a CDS contract.
Crypto / Digital Assets
ISDA CDM Deployed in UK Digital Regulatory Reporting Pilot
By Manesh Samtani | 23/05/2019
The UK initiative is exploring the use of technology to help firms meet their regulatory reporting requirements and improve the quality of information reported.
Market Infrastructure
ISDA Launches Two More Consultations on Benchmark Reform
By Garima Chitkara | 21/05/2019
ISDA is consulting on fallback adjustments for USD LIBOR, HIBOR and Canada’s CDOR. It is also proposing to include the SOFR in Singapore’s SOR calculation following USD LIBOR’s cessation.
Capital / Liquidity
ISDA Outlines Key Steps to Initial Margin Compliance
By Manesh Samtani | 13/05/2019
Based on recent BCBS/IOSCO guidance, ISDA estimates that regulatory IM preparation can be deferred for upwards of 70-80% of Phase 5 counterparty relationships.
Market Infrastructure
Australian Regulators Urge Action on LIBOR Transition
By Editors | 10/05/2019
Firms should be aware of the size and nature of their LIBOR exposures, put in place robust fall-back provisions in LIBOR contracts, and be taking action to transition to alternative rates.
Market Infrastructure
CFTC Chairman Seeks Formal Guidance on Phase 5 Initial Margin
By Manesh Samtani | 06/05/2019
Chairman Giancarlo seeks regulatory guidance clarifying that entities with calculated initial margin amounts less than $50mn need not make preparations to exchange initial margin.
Market Infrastructure
BOJ Committee Releases Results of Discussion on Libor Alternatives
By Garima Chitkara | 29/04/2019
The industry-led committee is working to develop term reference rates based on JPY OIS as a potential alternative benchmark in light of the discontinuation of JPY LIBOR in 2021.
Market Infrastructure
China, Indonesia, India Slow to Finalise Close-Out Netting Reforms
By Garima Chitkara | 24/04/2019
In its April quarterly round-up, ISDA detailed efforts in the three jurisdictions to ensure legal certainty on close-out netting, seen to be a critical issue for derivatives market development.
Market Infrastructure
ISDA, FIA Respond to Singapore, Australia BMR Equivalence
By Manesh Samtani | 19/04/2019
The associations say a preferred approach would be to recognise Singapore’s and Australia’s regimes as a whole rather than the current benchmark-by-benchmark approach.
Market Infrastructure
FRTB May Disadvantage Emerging Markets – ISDA
By Manesh Samtani | 15/04/2019
There is a need for supervisors to consider local specificities when implementing the framework in less developed markets, ISDA says.
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