On June 2, ISDA, the European Banking Federation and FIA wrote to the European Commission (EC) and the European Securities and Markets Authority asking the EC both to expedite equivalence decisions relating to EMIR Article 13 and to extend a derogation from the clearing obligation for cross-border intragroup transactions by a further three years (for transactions where one entity is in a jurisdiction that has not yet been found equivalent). The derogation is set to expire on December 21, 2020. This follows a similar letter (sent on April 30) to the EC and European Supervisory Authorities regarding the expiry of the intragroup derogation regarding cross-border intragroup transactions in contracts that are not subject to the clearing obligation.
Documents (1) for Letter on Derogation of EMIR Clearing Obligation for Intragroup Transactions
Latest
Joint Response to FCA and HMT Consultations
On January 16, ISDA and UK Finance responded to both the consultation on streamlining the UK European Market Infrastructure Regulation (UK EMIR) intragroup regime by the Financial Conduct Authority’s (FCA) and the draft statutory instrument from His Majesty’s Treasury (HMT)....
Key Trends in OTC Derivatives Market H1 2025
The latest data from the Bank for International Settlements (BIS) over-the-counter (OTC) derivatives statistics shows an increase in notional outstanding of OTC derivatives during the first half of 2025 compared to the first half of 2024. Notional outstanding rose across...
Credit Derivatives Trading Activity Q3 2025
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...
Striking a Balance on EU Market Risk Capital
With US prudential regulators poised to publish a revised Basel III endgame proposal this year, and EU and UK regulators moving to finalize their own rules, ISDA is maintaining a laser focus on achieving a risk-appropriate capital framework that is...