ISDA Requests Extension of Relief on Brexit-related Novations

On November 25, 2019, ISDA wrote to European authorities to request an extension to regulatory technical standards (RTS) related to novation, in order to avoid expiry at the end of the year. The novation RTS allows counterparties, in the event of a ‘no-deal Brexit’, to novate their contracts from the UK to an EU counterparty without triggering clearing or margining requirements for 12 months. The novation RTS requires extending to keep pace with the ongoing Brexit delays.

Click on the attached PDF to read the letter in full.

Documents (1) for ISDA Requests Extension of Relief on Brexit-related Novations

Joint Paper on UK EMIR Reform

On July 1, ISDA and UK Finance published a paper, which recommended a set of reforms for the UK European Market Infrastructure Regulation (UK EMIR), carefully considering each EU EMIR 3.0 reform and asking whether we would wish to adopt...

Response to FCA on UK EMIR Reporting

On June 30, ISDA submitted a response to chapter 5 of the UK Financial Conduct Authority’s (FCA) quarterly consultation CP25/16 on trade repository reporting requirements under the UK European Market Infrastructure Regulation (UK EMIR). Chapter 5 proposes ‘Amendments to the...

CDS Trading Activity in EU, UK and US Markets

This report analyzes credit derivatives trading activity reported in Europe. The analysis shows European credit derivatives transactions based on the location of reporting venues (EU versus UK) and product type. The report also compares European-reported credit derivatives trading activity to...