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
Launch of ISDA Notices Hub and Protocol
ISDA has launched the ISDA Notices Hub and the ISDA 2025 Notices Hub Protocol, giving users a faster and more efficient method for delivering critical notices and reducing the uncertainty and risk of losses that can result from delays. The...
Response to Voluntary Carbon Markets Consultation
On July 10, ISDA responded to the UK government’s consultation on voluntary carbon and nature markets. The UK should continue to play a leading role in promoting the consistent legal treatment of carbon credits internationally, with the development of global...
ISDA Response – ROC Consultation on Revised CDE Version 4
The International Swaps and Derivatives Association, Inc. (ISDA) response to the Regulatory Oversight Committee (ROC) consultation on the harmonisation of critical OTC derivatives data elements (CDE) revised CDE Technical Guidance – version 4, submitted to the ROC on January 24,...
ISDA response to ESMA MiFIR Review Consultation
On July 11, ISDA submitted a response to the European Securities and Markets Authority's (ESMA) fourth package of Level 2 consultation under the Markets in Financial Instruments Regulation Review (MiFIR), on transparency for derivatives, package orders and input/output data for...