Trade Associations Submit Letter on UK CCP Equivalence

On September 16, 2021, ISDA and eight other trade associations representing a broad group of market participants (the Association for Financial Markets in Europe, the Alternative Investment Management Association, the European Association of Public Banks, the European Banking Federation, the European Fund and Asset Management Association, the Futures Industry Association, the Investment Company Institute and the asset management group of the Securities Industry and Financial Markets Association) sent a letter to commissioner Mairead McGuiness, requesting that the European Commission (EC) extend its equivalence decision for UK central counterparties.

This equivalence decision is set to expire on June 30, 2022, although the associations request that the EC provide clarity as soon as possible and well in advance of March 2022 in order to prevent negative financial, commercial, operational and level playing-field effects on EU counterparties and clearing members and to enable continued access to global pools of liquidity after June 30, 2022.

Documents (1) for Trade Associations Submit Letter on UK CCP Equivalence

Stress Scenarios for CCP IM Simulators

ISDA has published a paper that explains why stress scenarios that central counterparties (CCPs) use for default fund sizing cannot be used for forward-looking initial margin (IM) simulators. Typically, stress scenarios used by CCPs consist of a single step, transitioning...

Paper on EMIR 3 Active Account Representativeness

On September 4, ISDA, the European Fund and Asset Management Association (EFAMA) and FIA shared a paper with EU policymakers requesting clarification on the implementation of the active account requirement under the third European Market Infrastructure Regulation in relation to...

Episode 51: Trading Places

Markets have been volatile so far this year, but what has this meant for market liquidity? The Swap talks to Chris Edmonds from Intercontinental Exchange on trading activity and the market, economic and geopolitical outlook. Please view this page via...