It is important that EMIR address intragroup transactions in a way that is (a) proportionate and appropriate for the real level of risk involved (taking into account that the client–facing transactions will be either cleared or bilaterally margined (depending on whether the contract is clearing-eligible) and these are internal group back-to-back transactions, which do not increase inter-connectedness in the financial system) and (b) internationally coherent, in such a way that European and US (and other) financial groups can continue to compete for clients on a safe basis, and ensuring that risk management is not compartmentalised geographically (EMIR should not promote trade barriers).
Documents (1) for ISDA-AFMR brief on intragroup transactions (EMIR) of 12 May 2011
Latest
ISDA 2025 – 2002 Equity Derivatives Definitions (Versionable Edition) Protocol Opens for General Adherence
ISDA has opened the general adherence phase for the ISDA 2025 – 2002 Equity Derivatives Definitions (Versionable Edition) Protocol. The protocol enables adherents to amend the terms of their equity derivatives master confirmation agreements to incorporate the 2002 ISDA Equity...
ISDA Comment on ICC Application as Clearing Agency
On October 6 ISDA submitted a comment letter to the Securities and Exchange Commission in response to the ICE Clear Credit (“ICC”) application for registration as a clearing agency under Section 17A of the Securities Exchange Act of 1934, including...
Paper on Enhancing Liquidity and Risk Management
As ISDA marks its 40th anniversary this year, it is an opportune time to reflect on the challenges and opportunities faced by the global derivatives markets over the past four decades. Rapid growth, continued innovation, regulatory reform, central clearing, margining,...
Trade Bodies Seek Delay on Third-Country CCP Rules
On October 21, ISDA and nine other trade associations – the Alternative Investment Management Association, the European Association of Co-operative Banks, the European Association of Corporate Treasurers, the European Banking Federation, the European Fund and Asset Management Association, the European...