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.