For Immediate Release Wednesday, March 15, 2006
For More Information, Please Contact:
Lauren Dobbs, ISDA Press Office, Singapore, +65 68364766; Lauren@kennedycom.com
Scott Marra, ISDA New York, 212-901-6013, smarra@isda.org
ISDA’s Global Growth Continues; Membership Rises to 700
SINGAPORE, Wednesday, March 15, 2006 – At its Annual General Meeting here today, the International Swaps and Derivatives Association (ISDA) said that its membership continues to expand across the globe and now totals 700 firms. Over the past year, ISDA has added over 60 new member firms.
The Association is the largest global financial trade group, ranked by the number of member institutions. Its members are headquartered in 50 countries on six continents, including 62 members from 12 jurisdictions in the Asia-Pacific region ex-Japan: Australia, China, Hong Kong, Indonesia, India, Malaysia, New Zealand, Philippines, Pakistan, Singapore, South Korea and Taiwan.
According to Robert Pickel, ISDA Chief Executive Officer and Executive Director, “The Association’s growth reflects the strong dynamics of the privately negotiated derivatives business, and ISDA’s effectiveness in encouraging the prudent and efficient development of that business.”
Reflecting its global growth, and to further facilitate dialogue among derivatives industry participants, ISDA also said that it has formed a Derivatives Users Committee. The Chairs of the Committee are Natalie Bohmer, Operations Manager, Cheyne Capital Management and Samuel A. Cole, Chief Operating Officer, Blue Mountain Capital Management. The Committee is a forum for non-dealer firms to discuss operations processing, documentation, risk management, market practice and education. In its early stages, the Committee will have a particular focus on credit derivatives.
“One of ISDA’s key strengths is our ability to tap into the expertise of our extensive membership to support the broad range of initiatives that we undertake on behalf of our industry,” said Mr. Pickel. “The Derivatives Users Committee will help to ensure that we maintain open lines of communication amongst our key constituencies.”
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 approximately 700 member institutions from 50 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.