Compression activity has increased significantly over the past year, driven by new regulations and developments in clearing technology. In particular, the implementation of the Basel III leverage ratio has acted as a major incentive for banks to reduce the size of their legacy derivatives books. Developments in compression services – and especially the unlinking of cleared trades – have helped facilitate increased activity. Total interest rate derivatives notional
outstanding has dropped as a result. This report considers how market participants are using compression technology, and the impact this is having on the interest rate derivatives market.
Documents (1) for The Impact of Compression on the Interest Rate Derivatives Market
Latest
Paper on Proposal 6 on Margin Transparency
On November 16, ISDA published a document that looked at proposal 6 in the final Basel Committee on Banking Supervision (BCBS), Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO) report on margin transparency. Proposal...
Tender Issued for DC Administrator Role
ISDA and the Credit Derivatives Governance Committee have issued an invitation to tender for an independent regulated entity to serve as the administrator for the Credit Derivatives Determinations Committees (DCs), which includes assuming the role of DC secretary. The DC...
ISDA SIMM: The Standard for IM Calculations
The ISDA Standard Initial Margin Model (ISDA SIMM) plays an important role in ensuring margin calculations are consistent, transparent and aligned with global best practices and regulatory requirements. Since its launch in 2016, the model has been rigorously tested, regularly...
ISDA In Review – October 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in October 2025.