ISDA/FIA respond to ESMA consultation on package orders

On January 3, 2017, ISDA and FIA responded to the European Securities and Markets Authority’s (ESMA) consultation on package orders for which there is a liquid market. The consultation paper proposed a methodology by which package orders would be considered liquid under the revised Markets in Financial Instruments Directive (MIFID II).

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Eyeing the Basel III Finish Line

An effective regulatory capital framework relies on multiple ingredients, from appropriate drafting to rigorous testing and consultation. Even minor calibration distortions can inflate capital requirements, which could negatively affect the capacity of banks to support deep and liquid markets, with...

Joint Comment Letter on Basel III Endgame Proposal

The Institute of International Finance (IIF), the International Swaps and Derivatives Association, Inc. (ISDA) and the Securities Industry and Financial Markets Association (SIFMA) today submitted a joint comment letter to the Board of Governors of the Federal Reserve System, the...