For Immediate Release Thursday,
February 22, 2007
For More Information,
Please Contact:
ISDA Applauds PWG for Principles and Guidelines on Private Pools of Capital
The report notes the importance of market participants recognizing the risks as well as the rewards presented by innovations in the financial industry. By highlighting the need for regulators and market participants alike to adopt prudent measures to monitor risk, the PWG reinforces its leadership in matters of global economic policy.
“The Agreement highlights the central role that market discipline plays in addressing the question of systemic risk and encourages regulators, investors, counterparties and investment pools alike to be proactive in assuring the healthy functioning of the markets,” said Robert Pickel, Executive Director and Chief Executive Officer, ISDA. “ISDA values the President’s Working Group for its continued responsible leadership in this area.’
The Agreement represents significant progress in both understanding the challenges posed by a more dynamic and liquid market, as well as encouraging measures which will ensure that the benefits presented by the global financial markets continue well into the future.
About ISDA
ISDA, which represents participants in the privately negotiated derivatives industry, is the largest global financial trade association, by number of member firms. ISDA was chartered in 1985, and today has over 750 member institutions from 54 countries on six continents. These members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities. Information about ISDA and its activities is available on the Association's web site: www.isda.org.