ISDA wrote a letter to the European Commission and the European Securities and Markets Authority in support of an urgent request by the Chair of the EU Risk-free Rate Working Group for a statement clarifying that amendments to existing transactions for benchmark reform purposes would not have the effect of imposing margin or clearing obligations under the European Markets Infrastructure Regulation (EMIR). The letter emphasizes the importance of ensuring the clarification applies to benchmarks generally and flags that future transition initiatives may require additional regulatory assistance in the form of guidance or legislative instruments.
Documents (1) for ISDA Letter on IBOR Transition and EMIR Grandfathering
Latest
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.
Working Towards Tokenized Collateral
One of the lessons learned from recent market shocks – including the 2020 dash for cash and the UK gilt market crisis in 2022 – is that when volatility strikes and market participants must suddenly generate large amounts of cash...
IQ Interview Yazeed Alnafjan
ISDA published new legal opinions in June that recognise the enforceability of close-out netting in Saudi Arabia under regulations published by the Saudi Central Bank earlier this year. In this interview with IQ, Yazeed Alnafjan, the central bank’s deputy governor...