July 5, 2022
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.
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