Better Together – IQ May 2023

There were a couple of big themes running through ISDA’s Annual General Meeting (AGM) in Chicago earlier this month. One was the regulatory and market responses to the series of stress events that have rocked markets since the dash for cash in March 2020. Others included the impact of the recent banking turmoil, the (mis)management of interest rate and liquidity risk and the role of social media in the collapse of Silicon Valley Bank, as well as the ongoing US debt ceiling discussions.

Over the two days of the AGM, delegates heard from leading regulators and industry leaders, including Commodity Futures Trading Commission chairman Rostin Behnam (who was interviewed on-stage by Bloomberg’s Tracy Alloway and Joe Weisenthal in a live recording of the Odd Lots podcast), Securities and Exchange Commission chair Gary Gensler and US Treasury under secretary for domestic finance Nellie Liang.

This issue of IQ takes a lightening tour of some of the issues covered by this year’s keynote speakers and panels, as well as providing information on some of the materials distributed at the AGM, from the 2022 Margin Survey to ISDA’s latest animations on collateral management process efficiency and voluntary carbon markets. For more AGM content, watch ISDA’s interviews with a number of policymakers and market participants who spoke on the panels here.

We’d like to take this opportunity to sincerely thank all our delegates, speakers and sponsors for supporting the event – we simply couldn’t run it without you. We very much hope to see all of you for the 38th AGM in Tokyo in April 2024.

Click on the PDF below to read IQ in full.

Documents (1) for Better Together – IQ May 2023

10 Years of the ISDA SIMM

As the derivatives industry prepared for the September 2016 implementation of initial margin requirements for non-cleared derivatives, one challenge stood out: counterparties needed to agree on the amount of initial margin to be exchanged. But if each firm developed its...

Expanding the Universe of Eligible VM

ISDA conducted a series of interviews with buy- and sell-side firms to understand the drivers of a growing use of non-cash assets as variation margin (VM) for non-cleared over-the-counter (OTC) derivatives and the barriers that remain to expanding the use...