On November 17, ISDA responded to a joint Bank of England/Prudential Regulation Authority (PRA) consultation paper on UK withdrawal from the EU and changes before the end of the transition period.
In the response, ISDA asks the PRA to retain the existing scope of qualifying indices for the purposes of detailed rules on liquidity horizons in the new market risk rules on the Fundamental Review of the Trading Book. In relation to the binding technical standards on risk-mitigation techniques, the response calls for the PRA to clarify the position regarding UK phase-in of phases five and six of the initial margin requirements, and raises concerns about the operation of the exemption for intragroup transactions. ISDA welcomes the transitional relief that permits firms subject to the UK margin requirements to continue to accept European Economic Area UCITS as initial margin until March 31, 2022. However, we believe this permission should be permanent.
Documents (1) for ISDA Response to PRA Consultation on Withdrawal from the EU
Latest
Joint Response to ETS Review
On November 2, ISDA and the Association for Financial Markets in Europe submitted a joint statement on the European Commission’s call for feedback on the review of the EU Emissions Trading System (ETS). The response highlights the importance of a...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
ISDA Publishes ISDA SIMM® Methodology, Version 2.9+2606
Following the 2026 primary calibration exercise, ISDA is pleased to publish ISDA SIMM® version 2.9+2606. This version incorporates updates arising from the recalibration of the model using historical data up to and including 30 June 2026. The ISDA SIMM methodology...
Moving Regulatory Reporting up a Gear with AI
The aim of derivatives regulatory reporting is to improve transparency so regulators can monitor market activity and identify emerging risks. Although reporting rules and subsequent updates have resulted in improvements, they haven’t achieved fully consistent outcomes, leading to implementation and...