ISDA will this year publish a replacement for its flagship interest rate definitions booklet. The new 2021 ISDA Interest Rate Derivatives Definitions will consolidate over 70 supplements from the 2006 ISDA Definitions into a newly minted main book, as well as making changes so the definitions better reflect the characteristics of modern interest rate derivatives markets. In anticipation of its final publication and October 4 implementation date, ISDA’s Senior Counsel for Europe, Rick Sandilands, spoke with MarkitSERV’s Guy Gurden, FpML’s Brian Lynn and ISDA’s Jonathan Martin on how the definitions will be implemented and what steps market participants should take as they switch from the 2006 to the 2021 Definitions.
Please note that as at the date of recording, the 2021 Definitions were still going through the final stages of working group review. The information provided in this video is therefore subject to change. For the latest information on the topics discussed, please refer to the ISDA website at www.isda.org or contact your local ISDA representative.
Latest
Developing OTC Commodity Derivatives in India
The development of a robust and liquid over-the-counter (OTC) commodity derivatives market in India could support the continued growth of India’s economy given its significant reliance on commodities. A well-functioning OTC market in India would offer several advantages. First, it...
A Critical Step to Efficient Treasury Clearing
By the end of this year, the first prong of the Securities and Exchange Commission’s (SEC) Treasury clearing mandate will come into force. This is part of a regulatory effort to make the financial system more robust, but it will...
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...