On October 9, ISDA published a paper jointly supported by six other national financial sector trade bodies (the Association of German Banks, ASSOSIM, Banking and Payments Federation Ireland, the Danish Securities Dealers Association, the Dutch Banking Association and the Swedish Securities Dealers Association) on ‘cliff edge’ risks for over-the-counter derivatives associated with a ‘no-deal’ Brexit.
The paper focuses in particular on immediate adverse impacts on EU 27 firms and EU 27 clients of UK entities – and, in some cases, UK firms and clients and counterparties of EU 27 firms.
ISDA has now published a webinar that covers three main areas from the paper:
- Discussion of the main ‘cliff edge’ effects under EU law and any available mitigation under existing EU law;
- ‘Hiatus risk’; and
- Recommendations on steps that can be taken now to address the risks of a ‘cliff edge’ Brexit.
Watch: ‘No Deal’ Brexit – ‘Cliff Edge’ Risks for Derivatives Webinar
Latest
Stress Scenarios for CCP IM Simulators
ISDA has published a paper that explains why stress scenarios that central counterparties (CCPs) use for default fund sizing cannot be used for forward-looking initial margin (IM) simulators. Typically, stress scenarios used by CCPs consist of a single step, transitioning...
Paper on EMIR 3 Active Account Representativeness
On September 4, ISDA, the European Fund and Asset Management Association (EFAMA) and FIA shared a paper with EU policymakers requesting clarification on the implementation of the active account requirement under the third European Market Infrastructure Regulation in relation to...
ISDA In Review – August 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in August 2025.
Episode 51: Trading Places
Markets have been volatile so far this year, but what has this meant for market liquidity? The Swap talks to Chris Edmonds from Intercontinental Exchange on trading activity and the market, economic and geopolitical outlook. Please view this page via...