ISDA response to HMT highlighting the following issues:
1. What indirect clearing requires – the policy view expressed in the consultation
2. Agency vs principal arrangements at indirect clearer level – the substantive
conclusion
3. Regulatory capital and netting implications
4. Handling of collateral
5. Cross-border arrangements
6. Implementation intentions in other EU member states
7. Powers of direction over clearing members
8. Cross border non-EEA structures
9. Achievability of individual segregation indirect clearing arrangements
Documents (1) for ISDA-BBA Preliminary response to HMT re. indirect clearing
Latest
Trading Book Capital: Mark Gheerbrant Remarks
Trading Book Capital: Basel III Implementation and Latest Industry Trends London, December 2, 2025 Introduction and Welcoming Remarks Mark Gheerbrant Global Head of Risk and Capital, ISDA Good afternoon, and welcome to ISDA’s annual Trading Book Capital event –...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
The CPI Quandary
The recent US government shutdown didn’t just create weeks of political drama – it also left inflation-linked swaps dealers with a major headache: how should they determine an initial value for new trades given the US Bureau of Labor Statistics...
ISDA Response to HMT, BoE on UK CCPs
On November 18, ISDA submitted its responses to the Bank of England (BoE) consultation on ensuring the resilience of central counterparties (CCPs) and the UK Treasury’s (HMT) two draft CCP statutory instruments (SIs). These consultations form part of the update...