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
ISDA Launches Pre-adherence Period for Notices Hub
ISDA has begun a pre-adherence process for the ISDA Notices Hub, enabling firms to sign up to a free protocol that will allow them to use the new platform when it launches on July 15. Under the ISDA Master Agreement,...
ISDA SIMM EU Regulatory Approval Requirements
ISDA published ISDA SIMM version 2.7+2412 on May 22 – the first recalibration under the new semiannual cycle. The release triggered a new requirement for EU counterparties to apply for regulatory authorization to use the model – a submission that...
Creating Value - IQ June 2025
Ever since its establishment 40 years ago, ISDA has worked to enhance the safety and efficiency of derivatives markets. That has motivated everything we do – from the development of standard documentation and the rollout of new digital solutions to...
Paper on EC’s Sustainability Omnibus Proposal
On June 9, ISDA published a position paper setting out its views on the European Commission’s (EC) Sustainability Omnibus Package. In the paper, ISDA urges European authorities to: Ensure a proportionate, harmonized and symmetrical approach to the use of derivatives...