On May 17, ISDA published its comments on the European Commission’s active account proposal under the European Market Infrastructure Regulation (EMIR) requiring EU clearing participants to use EU central counterparties (CCPs) for a proportion of their business. ISDA explains that such a proposal would not make the EU derivatives market safer or more attractive, and could lead to market fragmentation, potentially creating systemic and operational risks. The comments also set out why mandating clearing on EU CCPs is unlikely to generate a viable and attractive euro clearing market.
Documents (1) for ISDA Comments on European Commission Active Account Proposal
Latest
Why We Need Safe and Efficient SFT Markets
Securities financing transactions (SFTs) play a vital role in fostering liquidity, mobilizing collateral and supporting the smooth functioning of derivatives markets. But during periods of stress, secured funding markets often come under pressure just when they’re needed most, with reduced...
Response to BoE on Clearing Exemption for PTRR
On March 11, ISDA submitted a response to the Bank of England’s consultation on a proposed approach to exempting post-trade risk reduction (PTRR) transactions from the derivatives clearing obligation under Article 4 of the European Market Infrastructure Regulation (EMIR). ISDA...
IQ Interview with David Bailey
The Bank of England’s Prudential Regulation Authority recently finalized its Basel 3.1 framework for implementation at the start of 2027. David Bailey, executive director for prudential policy, talks to IQ about the importance of global consistency and the need to...
LSEG's TradeAgent Integrates ISDA DRR
ISDA has announced that LSEG has integrated ISDA’s Digital Regulatory Reporting (DRR) solution into its Post Trade Solutions business, TradeAgent, representing a significant milestone in the industry deployment of the ISDA DRR. The ISDA DRR converts an industry-agreed interpretation of...