On November 12, ISDA, along with 13 other trade associations, wrote to the European Commission to ask them to extend the temporary equivalence until the date 18 months after entry into force of the relevant Commission delegated acts under EMIR 2.2, plus an additional three month period to allow UK CCPs to serve termination notices to EU clearing members in the event that their recognition is withdrawn following ESMA’s review.
It is important for the purpose of maintaining financial stability in the event of a “No Deal” Brexit for the Commission to provide this certainty in a timely fashion. We respectfully but urgently request the Commission to provide this confirmation well in advance of the end of December 2019 in order to mitigate the effects on EU counterparties and clearing members in the event that UK CCPs cannot obtain permanent recognition prior to March 30, 2020.
Documents (1) for Joint Trade Associations Letter on CCP Recognition and Equivalence
Latest
Response to EC Call for Evidence on Tax Omnibus
On March 30, ISDA, the International Securities Lending Association and the Association for Financial Markets in Europe responded to the European Commission’s (EC) call for evidence on the tax omnibus. The associations argue that inconsistent interpretation of “beneficial ownership” among...
Managing Risk for Australian Superannuation Funds
Assets managed by the Australian superannuation sector reached A$4.5 trillion in December 2025, equivalent to around 160% of Australia’s GDP. Given its size, the sector has rapidly expanded its global footprint, with the share of offshore investments growing as a...
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.
Next Steps on a Much Improved Basel III Endgame
Publication of the revised Basel III endgame proposal earlier this month marks an important step towards completion of the global capital reforms, giving banks much-needed clarity on the likely calibration of the rules in the US. The new proposal is...