ISDA, the Italian Financial Markets Intermediaries Association (Associazione Intermediari Mercati Finanziari, or ASSOSIM), the Danish Securities Dealers Association (Børsmæglerforening Danmark), the European Banking Federation and the Swedish Securities Dealers Association (Svenska Fondhandlareföreningen) have published a paper in response to concerns about the impact on EU and UK firms and their EU and UK clients resulting from the end of Brexit transition period in December.
The paper sets out other reasons why the end of the transition period has the potential to create a disruptive ‘cliff-edge’ change in the EU regulatory requirements that apply to the over-the-counter derivatives business in a way that may adversely affect EU or UK firms and their EU and UK clients and counterparties.
Click on the attached PDF to read the full paper.
Documents (1) for The Impact of a Cliff-edge Brexit on OTC Derivatives
Latest
Letter to EC and ESMA on Derivatives Framework
On March 27, ISDA sent a letter to the European Commission (EC) and the European Securities and Markets Authority (ESMA) to highlight several technical issues arising from the interaction between the delegated regulation (EU) 2025/1003 on identifying reference data to...
Response on Proposed Changes to Transaction Rules
On May 22, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association submitted a joint response to the Australian Securities and Investments Commission's (ASIC) consultation on proposed changes to the ASIC Derivative Transaction Rules (Reporting)...
EBA FRTB-ASA Benchmarking Support for Newly In-scope Banks
A new regulatory requirement is expected to bring additional EU banks into scope for submitting Fundamental Review of the Trading Book (FRTB) Alternative Standardized Approach (ASA) capital as part of the European Banking Authority’s (EBA) benchmarking exercise. ISDA Capital Models...
Joint Letter on Sunset of Swaps TR Rules
On May 20, ISDA, FIA and the Securities Industry and Financial Markets Association (SIFMA) submitted a joint letter to US Commodity Futures Trading Commission (CFTC) to request the CFTC to sunset large trader reporting rules (LTR) rules for physical commodity...