The G20 has identified market fragmentation as a key issue to address this year. What’s driving the concern? How and where is fragmentation affecting the financial and derivatives markets? What can and should policymakers and market participants do about it?
- Moderator: Steven Kennedy, Global Head of Public Policy, ISDA
- Thijs Aaten, ISDA Board Member, Chief Finance and Risk Officer, APG Asset Management Asia
- Jenny Cosco, Managing Director, Co-Head, Government Affairs Asia Pacific, Goldman Sachs (Asia) L.L.C.
- Stephen M. Humenik, Of Counsel, Covington and Burling LLP
- Patrick Pearson, Head of Financial Market Infrastructures and Derivatives, European Commission
- Shunsuke Shirakawa, Vice Commissioner for International Affairs, Financial Services Agency (FSA), Japan
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ISDA In Review – August 2026
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in August 2026.
Remove Bureaucracy from Cross-margin Approvals
Cross-margining programs play a critical role in financial markets. By ensuring margin requirements more closely reflect the actual risk of a portfolio of products, they reduce liquidity strain and improve market efficiency, both of which will become even more important...
Joint Response on CCP Resolution
On September 7, ISDA and FIA responded to a Bank of England (BOE) discussion paper on central counterparty (CCP) resolution. The associations support greater clarity on valuation capabilities prior to a crisis scenario and the boundary between recovery and resolution,...
Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...