ISDA held its Annual General Meeting in Madrid on May 10-12, with a major focus on the development of crypto derivatives and sustainable finance, as well as LIBOR transition, digitization and capital regulations.

In this issue:

ISDA Focuses on Crypto Standards

Derivatives linked to crypto assets are growing fast, and ISDA is working to develop contractual standards that will bring order and efficiency to this fast-evolving market, according to Scott O’Malia, ISDA’s chief executive.

Collective Action and Integrity Critical to Green Transition

Reducing carbon dioxide emissions to net zero by 2050 will require collective action across the financial sector to ensure rapid progress is made without enabling greenwashing, according to market participants and regulators who spoke during ISDA’s Annual General Meeting in Madrid.

Capital for Crypto Won’t be Diluted, Says Basel Committee Chair

The Basel Committee on Banking Supervision will maintain a simple and cautious approach to the capitalization of crypto assets and market participants should not expect it to water down its proposed approach in response to stakeholder feedback, the committee’s chairman has warned.

Regulators Eye Crypto Market

Regulators are planning to up their oversight of crypto markets, amid concerns the rapid growth of the sector poses potential financial stability risks, as well as investor protection and market manipulation issues.

Consolidated Tape ‘Indispensable’, Says ESMA Chair

The emergence of consolidated tape providers under the EU’s Markets in Financial Instruments Regulation is an “indispensable development for the EU capital market”, and challenges over the format and quality of reported data should not be allowed to derail the initiative, the chair of the European Securities and Markets Authority has said.

Collaboration Helped LIBOR Transition, Says CFTC’s Behnam

Collaboration between regulators and industry participants to address the challenges of transitioning from LIBOR to alternative reference rates meant the end-2021 deadline for the removal of most LIBOR settings passed without significant market disruption, according to Rostin Behnam, chairman of the US Commodity Futures Trading Commission.

Beware Stale 2006 Definitions, Says Tew Darras

The 2021 ISDA Interest Rate Derivatives Definitions have become the market standard for interest rate derivatives, and firms that continue to use the 2006 booklet are using definitions that are now stale, according to Katherine Tew Darras, ISDA’s general counsel.

Also in this issue:

• DRR Offers Upsides for Trade Reporting
• ISDA Solutions Address Industry Challenges, Says Litvack
• Thanks to Our Sponsors
• The AGM in Pictures

Please click on the attached PDF to read the full issue.