On July 14, 2021, ISDA and 15 other trade associations wrote to the European Securities and Markets Authority (ESMA) and the European Commission (EC) on the timeline for implementation of the mandatory buy-in rules as part of the Central Securities Depositories Regulation (CSDR) settlement discipline regime. The associations welcome the report from the EC on the CSDR review published in July 2021, and fully support the intention to consider amendments to the mandatory buy-in regime, subject to an impact assessment. The associations request that ESMA and the EC take action to ensure the mandatory buy-in rules for non-central-counterparty transactions are not subject to application on February 1 2022, when the relevant regulatory technical standard is set to enter into force, and to provide clarity to market participants on the matter on an urgent basis.
Documents (1) for Trade Associations Submit Letter on CSDR Mandatory Buy-in Rules
Latest
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.
10 Years of the ISDA SIMM
As the derivatives industry prepared for the September 2016 implementation of initial margin requirements for non-cleared derivatives, one challenge stood out: counterparties needed to agree on the amount of initial margin to be exchanged. But if each firm developed its...
Expanding the Universe of Eligible VM
ISDA conducted a series of interviews with buy- and sell-side firms to understand the drivers of a growing use of non-cash assets as variation margin (VM) for non-cleared over-the-counter (OTC) derivatives and the barriers that remain to expanding the use...
ISDA Response on Hedge Accounting Guidance
On August 14, ISDA responded to an exposure draft from the Financial Accounting Standards Board (FASB). ISDA broadly supports the FASB’s proposed targeted improvements to hedge accounting, including allowing interest rate hedging of held-to-maturity (HTM) debt securities, recognizing all Secured...