The International Swaps and Derivatives Association (ISDA) and the Futures Industry Association (FIA) have published a position paper outlining their members’ concerns in relation to the settlement discipline regime under CSDR (effective February 2021), which has a number of unintended consequences for derivatives contracts, particularly regarding margin transfer and physically settled derivatives business. The paper requests legislative changes and/or regulatory interpretations to address these concerns.
Documents (1) for ISDA Publishes Position Paper on CSDR Settlement Discipline Regime
Latest
ISDA AGM Studio: José Manuel Campa, EBA
José Manuel Campa, chairperson of the European Banking Authority, speaks to Mark Gheerbrant, ISDA’s global head of risk and capital, about concerns over differences in timing and content of the Basel III reforms across jurisdictions and what can be done...
ISDA AGM Studio: Doug Donahue and Oliver Maxwell
Just a small delay in the delivery and receipt of a termination notice can have significant economic consequences for derivatives counterparties. Doug Donahue, partner at Linklaters, and Oliver Maxwell, product management director, platforms and regulatory compliance at S&P Global Market...
ISDA AGM Studio: Emmanuel Geinoz and Eleanor Kelly
Five jurisdictions went live with revised derivatives reporting rules in 2024, with more to follow in 2025 and beyond, putting reporting teams under extreme pressure to implement accurately and on time to avoid regulatory penalties. Emmanuel Geinoz, market infrastructure and...
ISDA AGM Studio: Tyler Wellensiek, Stephen Berger
The first phase of the Securities and Exchange Commission’s Treasury clearing mandate will come into effect in December 2026 – a requirement that will have a significant impact on both US and non-US market participants. Tyler Wellensiek, ISDA board member...