ISDA has published the following response to the statement by the Basel Committee on Banking Supervision and International Organization of Securities Commissions on the final implementation phases of the margin requirements for non-centrally cleared derivatives.
“We’re glad that regulators have recognized the challenges posed by the phase-five implementation of initial margin requirements. However, based on thorough data analysis, we believe the most appropriate solution is to lift the phase-five compliance threshold. This will create certainty and reduce operational complexity for smaller firms, without compromising safety and soundness.”
For Press Queries, Please Contact:
Nick Sawyer, ISDA London, +44 203 808 9740, nsawyer@isda.org
Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.org
Amanda Leung, ISDA Hong Kong, +852 2200 5911, aleung@isda.org
Documents (1) for ISDA Response to BCBS/IOSCO Statement on Non-cleared Margin Requirements
Latest
FRTB Impact on Correlation Trading
The capitalization of the correlation trading portfolio (CTP) under the Fundamental Review of the Trading Book will have an adverse economic impact for users of these instruments. In particular, there is a lack of clarity and consistency in the application...
ISDA In Review – September 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in September 2025.
A Path to Greater CFTC-SEC Alignment
Earlier this week, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) held a roundtable on regulatory harmonization – an initiative we wholeheartedly support. The US regulatory framework has evolved over time to facilitate financial markets...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.