Joint Associations Letter to ESMA on Climate Benchmarks

ISDA, along with the Association for Financial Markets in Europe, the European Federation of Energy Traders, the Association of European Energy Exchanges and the Futures Industry Association, sent a joint letter to the European Commission’s Executive Vice-President Valdis Dombrovskis and the European Securities and Markets Authority’s (ESMA) Chairman Steven Maijoor to express their concerns in relation to the requirement for benchmark administrators to comply with additional obligations set out in the Low Carbon Benchmarks Regulation.

The letter requests ESMA to consider publishing guidance to national competent authorities, setting out its expectation that they will not prioritize their supervisory actions in relation to implementation of the obligations under the Low Carbon Benchmarks Regulation until the level 2 measures have been finalized and administrators have had the opportunity to implement the level 2 measures.

Documents (1) for Joint Associations Letter to ESMA on Climate Benchmarks

Stress Scenarios for CCP IM Simulators

ISDA has published a paper that explains why stress scenarios that central counterparties (CCPs) use for default fund sizing cannot be used for forward-looking initial margin (IM) simulators. Typically, stress scenarios used by CCPs consist of a single step, transitioning...

Paper on EMIR 3 Active Account Representativeness

On September 4, ISDA, the European Fund and Asset Management Association (EFAMA) and FIA shared a paper with EU policymakers requesting clarification on the implementation of the active account requirement under the third European Market Infrastructure Regulation in relation to...

Episode 51: Trading Places

Markets have been volatile so far this year, but what has this meant for market liquidity? The Swap talks to Chris Edmonds from Intercontinental Exchange on trading activity and the market, economic and geopolitical outlook. Please view this page via...