NEWS RELEASE
For Immediate Release
ISDA Welcomes European Parliament Progress on EMIR
NEW YORK, Wednesday, May 25, 2011 – The International Swaps and Derivatives Association, Inc. (ISDA) welcomes the adoption of amendments at committee stage by the Economic and Monetary Committee of the European Parliament on 24 May.
It is clear to ISDA that the rapporteur, Werner Langen, has listened to a wide range of interested parties, and weighed up all views in these amendments, which seek to deliver a cross-party consensus in the European Parliament. Though we maintain some concerns about the amendments adopted, we also note that Dr. Langen has improved the text in several areas.
We will continue to engage with MEPs in the lead up to the vote in plenary, scheduled for July, and thereafter with regard to the European Parliament’s approach, in particular where we have concerns in relation to systemic risk at CCPs, which we underline must be robust and resilient, given the level of risk concentration apparent.
For More Information, Please Contact:
Deirdre Leahy, ISDA New York, +1 212 901 6021, dleahy@isda.org
Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org
About ISDA
Since 1985, ISDA has worked to make the global over-the-counter (OTC) derivatives markets safer and more efficient. Today, ISDA is one of the world’s largest global financial trade associations, with over 800 member institutions from 56 countries on six continents. These members include a broad range of OTC derivatives market participants: global, international and regional banks, asset managers, energy and commodities firms, government and supranational entities, insurers and diversified financial institutions, corporations, law firms, exchanges, clearinghouses and other service providers. Information about ISDA and its activities is available on the Association’s web site: www.isda.org.
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.
Documents (1) for ISDA Welcomes European Parliament Progress on EMIR
Latest
Strengthening DC Governance
The Credit Derivatives Determinations Committees (DCs) play a vital role. Without a single, industry-wide determination on whether a credit event has occurred, it simply wouldn’t be possible to clear credit default swaps (CDS), making the market less safe and less...
ISDA CSA Significant Errors Notification SOP
The ISDA CSA Notification of Significant Error or Omissions Suggested Operational Practices (SOP) considers current institutional processes and outlines suggested operational practices related to the new requirement under §26.3(2) of the Canadian Trade Repositories and Derivatives Data Reporting rules rewrite...
ISDA Paper on UPI Identifiers
On July 16, ISDA submitted a paper (UPI as the Foundation for OTC Derivatives Reporting: The Case for UPI) to the UK Financial Conduct Authority (FCA). The paper was developed to complement ISDA’s response to the FCA’s discussion paper DP24/2:...
IRD Trading Activity First Quarter of 2025
This report analyzes interest rate derivatives (IRD) trading activity reported in Europe. The analysis is based on transactions publicly reported by 30 European approved publication arrangements (APAs) and trading venues (TVs). Key highlights for the first quarter of 2025 include:...