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
ISDA AGM Studio: David Bailey
David Bailey, executive director, prudential policy, at the Bank of England, speaks with ISDA CEO Scott O’Malia about the UK’s approach to Basel 3.1, the impact of the revised US Basel III endgame on cross‑border consistency and the role of the...
ISDA AGM Studio: Harleen Bains and Sonali Das Theisen
How have trading desks responding to increased market volatility this year? Harleen Bains, ISDA board member and head of global markets sales, Canada, at RBC Capital Markets, and Sonali Das Theisen, global head of FICC e‑trading and markets strategic investments...
ISDA AGM Studio: Scott O'Malia and Chris Edmonds
Christopher Edmonds, president, fixed income & data services, at Intercontinental Exchange, speaks with Scott O’Malia, ISDA CEO, about how market volatility, regulatory change and technological transformation are reshaping global markets. The discussion explores what recent volatility has meant for participation,...
ISDA AGM Studio: Bill Borden, Microsoft
Bill Borden, corporate vice president, worldwide financial services, at Microsoft, speaks with Mark New, ISDA’s co-head of digital transformation and senior counsel, about how artificial intelligence (AI) is shaping the future of financial markets and the key factors firms should...