Response to ESMA consultation paper on Benchmarks RTS

On December 2, ISDA, the FIA and SIFMA jointly responded to a consultation paper by the European Securities and Markets Authority on regulatory technical standards (RTS) for the Benchmarks Regulation. The response requested a number of clarifications including on the third-country regime, transitional provisions and scope.

Documents (1) for Response to ESMA consultation paper on Benchmarks RTS

Data Integrity for Single-sided Reporting

On April 2, ISDA published a paper on why single-sided reporting does not compromise the quality and integrity of data received by supervisors. The paper addresses concerns among regulators that moving from dual-sided reporting would adversely affect the quality of...

Paper on Removal of SI Regime

On April 2, ISDA, the Association for Financial Markets in Europe (AFME) and the International Capital Market Association (ICMA) published an update to a paper, originally published in October 2025, on the practical implications of the systematic internalizer (SI) regime...

Measured Adjustments - IQ April 2026

Eighteen years on from the global financial crisis of 2008, the rollout of central clearing, margining of non-cleared derivatives trades and higher capital requirements has completely reshaped derivatives trading and risk management. But effective regulation requires regular monitoring to ensure...