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Big Picture
ISDA Publishes Updated Template for Close-Out Netting Legislation
By Manesh Samtani | 17/10/2018
Jurisdictions are increasingly seeking guidance on implementing legislation to ensure the enforceability of close-out netting, the “single most important risk mitigation tool in derivatives markets”.
Market Infrastructure
ISDA, EU Industry Bodies Warn of ‘Cliff Edge’ Effects ‘No Deal’ Brexit
By Manesh Samtani | 10/10/2018
New paper proposes steps that can be taken now to mitigate potentially systemic consequences of the UK leaving the EU without a withdrawal agreement and transition period in place.
Fintech / Regtech
Smart Contracts Can Improve Derivatives Market Efficiency – ISDA
By Editors | 04/10/2018
A new white paper by ISDA and King & Wood Mallesons proposes a practical framework for constructing smart derivatives contracts.
Market Infrastructure
ISDA Chief Urges Early Preparation for ‘Enormous Challenges’ of 2020
By Manesh Samtani | 27/09/2018
The industry will need to start preparing quickly to meet the challenges facing the derivatives market, which will reach a critical point in 2020, says ISDA CEO Scott O’Malia.
Market Infrastructure
Independent Amount – 10 Years and No Change Since Lehman Collapse
By Matthieu Sachot | 19/09/2018
Counterparties are exposed to material downside risk in posting collateral without restrictions on rehypothecation or non-segregation, says Matthieu Sachot at Chappuis Halder & Co.
Market Infrastructure
ISDA Forum: Asia’s Banks Not Ready for 2020 Initial Margin Deadline
By Garima Chitkara | 18/09/2018
Banks and buy-side firms should begin compliance processes to meet the September 2020 deadline as early as possible, urged panellists at the ISDA Industry and Regulatory Forum.
Market Infrastructure
ISDA Forum: Brexit Negotiations Should Avoid “Brinksmanship”
By Garima Chitkara | 13/09/2018
Regulators at the ISDA conference in Singapore expressed concern about Brexit uncertainty, but were cautiously optimistic that Asia would suffer only minimal impacts in transactions with the EU and UK.
Market Infrastructure
CFTC Will Block Any Effort to Impose EMIR in the US: Giancarlo
By Garima Chitkara | 13/09/2018
Legislative efforts in the EU to bring non-EU clearinghouses under EMIR has elicited sharp responses from the CFTC chairman, who said that only US regulation can apply to US derivatives markets.
Market Infrastructure
CFTC Swaps Reform to Give Deference to Foreign Regulators
By Manesh Samtani | 12/09/2018
The CFTC’s approach to swaps regulation to date has been an over-expansive assertion of its jurisdiction, said its chairman Christopher Giancarlo in Japan this week.
Market Infrastructure
LIBOR Transition Programmes Should Mobilise Immediately – Report
By Manesh Samtani | 01/08/2018
New report by Oliver Wyman says firms should start developing new non-LIBOR products and managing down LIBOR exposures; those that do not act quickly in anticipation of the transition will increase risks and costs.
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