ISDA held the first day of its virtual Annual General Meeting on May 10, with sessions on LIBOR transition, alternative reference rates, diversity in derivatives markets and the forthcoming introduction of the 2021 ISDA Interest Rate Derivatives Definitions.
O’Malia: Pandemic has Accelerated Derivatives Digitization
The coronavirus pandemic has triggered a digital revolution in the derivatives market, accelerating the move towards a more automated, fully digital operating environment, ISDA chief executive Scott O’Malia has said.
Time to Put Foot on Accelerator of LIBOR Transition, Say Panelists
Continued publication of certain US dollar LIBOR settings until mid-2023 should not be interpreted as a delay, and firms should step up their efforts to prepare to use alternative reference rates for all new trades by the end of this year, according to speakers on a LIBOR panel at the start of this year’s ISDA Annual General Meeting.
Liquidity Will Centre on RFRs, Panelists Say
Risk-free rates will see the lion’s share of liquidity in the post-LIBOR world, but there are uses for alternative rates, including those with a credit-sensitive component, AGM speakers said.
Regulators Explore COVID Lessons
A variety of regulatory workstreams are under way to explore the implications of market stress caused by the coronavirus crisis last year and to understand if policy responses may be necessary, according to Ashley Alder, chair of the International Organization of Securities Commissions (IOSCO) and chief executive of Hong Kong’s Securities and Futures Commission.
ISDA 2021 Definitions Due for October Implementation
ISDA is targeting implementation of the 2021 ISDA Interest Rate Derivatives Definitions over the weekend of October 2/3, with the new definitional booklet for cleared and non-cleared interest rate derivatives due to be published within weeks.
Also In This Issue:
- ISDA Protocol Has Helped to De-risk Market
- Cooperation on Climate Change Critical, says Behnam
- Time to Normalize Flexible Working, Say Speakers
- At the AGM Today
Please click on the attached PDF to read the full issue.
Documents (1) for IQ in Brief: AGM Special – Day 1
Latest
Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...
ISDA Omnibus Canadian Representation Letter
On September 2, ISDA published the Omnibus Canadian Representation Letter, which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The Omnibus Canadian Letter is designed...
Joint Response on Cross-margining
On August 31, ISDA and FIA submitted a letter to the US Commodity Futures and Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on the agencies’ joint request for comment on the implementation of portfolio margining and cross-margining...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...