ISDA Responds to EC’s BMR Consultation

On August 11, 2022, ISDA submitted a response to the European Commission’s consultation on reforming the EU Benchmarks Regulation (BMR). In its response, ISDA highlights that without significant reform,  the BMR could expose benchmark users in the European Union (EU) to the threats that BMR was intended to protect them from, putting them at a competitive disadvantage to users of benchmarks in other jurisdictions. The response details a number of proposals to reform the third country regime including; making compliance mandatory for EU and third country ‘systemic’ benchmarks only; creating a voluntary regime for all other EU and third country benchmarks; reforming the prohibition on use of non-compliant systemic benchmarks; improving end-user visibility of which benchmarks are compliant; and removing uncertainty regarding key BMR provisions. Further information on the problems with the BMR and ISDA’s proposals can be found in the briefing paper: The Importance of Reforming the EU Benchmarks Regulation published on August 11, 2022.

Documents (1) for ISDA Responds to EC’s BMR Consultation

Paper on Enhancing Liquidity and Risk Management

As ISDA marks its 40th anniversary this year, it is an opportune time to reflect on the challenges and opportunities faced by the global derivatives markets over the past four decades. Rapid growth, continued innovation, regulatory reform, central clearing, margining,...

Trade Bodies Seek Delay on Third-Country CCP Rules

On October 21, ISDA and nine other trade associations – the Alternative Investment Management Association, the European Association of Co-operative Banks, the European Association of Corporate Treasurers, the European Banking Federation, the European Fund and Asset Management Association, the European...

ISDA and Tokenovate Launch CDM Taskforce

ISDA and Tokenovate have today announced the establishment of a new taskforce within the Fintech Open Source Foundation (FINOS) to accelerate operationalization of the Common Domain Model (CDM). The initiative responds to growing market demand for standardized, interoperable post-trade processing...