Amendment to the ISDA Master Agreement for use in relation to Section 2(a)(iii) and explanatory memorandum

Amendment to the ISDA Master Agreement for use in relation to Section 2(a)(iii) and explanatory memorandum

ISDA has today published the Amendment to the ISDA Master Agreement for use in relation to Section 2(a)(iii) for market participants who wish to amend their ISDA Master Agreements to insert a time limit on the operation of that provision in circumstances where an event of default has occurred in relation to one of the parties. Alongside this Amendment, ISDA has published an explanatory memorandum. Both documents are available for free download in the ISDA Bookstore.

Recognition of Cross-product Netting is Critical

US regulators are in the process of making important changes to the regulatory capital framework by proposing modifications to the enhanced supplementary leverage ratio, which should help stop it from acting as a non-risk-sensitive constraint on bank capacity – a...

ISDA, GFXD Response to FCA on SI Regime

On September 10, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association responded to the Financial Conduct Authority's (FCA) consultation paper CP25/20 on the systematic internalizer (SI) regime for derivatives and bonds. ISDA and the...

ISDA Response on Clearing Costs

On September 8, ISDA responded to consultation by the European Securities and Markets Authority (ESMA) on a draft regulatory technical standard on clearing fees and associated costs (article 7c(4) of the European Market Infrastructure Regulation (EMIR)). In the response, ISDA...