ISDA Responds to Swiss FINMA Consultation on Clearing Obligations for RFR Swaps

ISDA has responded to the Swiss Financial Market Supervisory Authority (FINMA) consultation on updated clearing requirements resulting from the transition away from IBORs. ISDA’s response highlights the following points:

  • ISDA members are very supportive of central clearing;
  • There should be a sufficient notice period for clearing participants (clearing members and their clients);
  • Transactions stemming from post-trade risk reduction exercises should be exempt from the clearing obligation;
  • ISDA members welcome the Swiss clearing obligations.

 

Documents (1) for ISDA Responds to Swiss FINMA Consultation on Clearing Obligations for RFR Swaps

A Path to Greater CFTC-SEC Alignment

Earlier this week, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) held a roundtable on regulatory harmonization – an initiative we wholeheartedly support. The US regulatory framework has evolved over time to facilitate financial markets...

Working Towards Tokenized Collateral

One of the lessons learned from recent market shocks – including the 2020 dash for cash and the UK gilt market crisis in 2022 – is that when volatility strikes and market participants must suddenly generate large amounts of cash...

IQ Interview Yazeed Alnafjan

ISDA published new legal opinions in June that recognise the enforceability of close-out netting in Saudi Arabia under regulations published by the Saudi Central Bank earlier this year. In this interview with IQ, Yazeed Alnafjan, the central bank’s deputy governor...