ISDA Response to FCA on Transparency in Derivatives Markets

On March 6, ISDA submitted a response to the UK Financial Conduct Authority’s (FCA) consultation on improving transparency for bond and derivatives markets. In the response, ISDA recommends the framework be calibrated to allow for longer deferrals for larger trades and smaller real-time size thresholds for sterling swaps to avoid adverse effects on pricing, which would be detrimental to UK markets and investors. The response also includes recommendations on the categorization of over-the-counter derivatives, the role of trading venues and the FCA in the calibration of transparency requirements, improvements to the fields and flags for post-trade reporting and the definition of a systematic internalizer.

Documents (1) for ISDA Response to FCA on Transparency in Derivatives Markets

SwapsInfo First Quarter of 2025

Interest rate derivatives (IRD) trading activity increased in the first quarter of 2025, driven by elevated interest rate volatility, shifting central bank policy expectations and evolving inflation and growth outlooks. Trading in index credit derivatives also rose, as market participants...

ISDA AGM Studio: Sid Nadella, Google Cloud

Sid Nadella, director and global head of capital markets solutions at Google Cloud, speaks to Joel Clark, ISDA’s senior director of communications, on the extent artificial intelligence is being used by financial institutions and the biggest risks and challenges of...

ISDA Response to CFTC on 24/7 Trading

On May 21, ISDA, the Securities Industry and Financial Markets Association (SIFMA) and its asset management group (SIFMA AMG) submitted a joint response to the US Commodity Futures Trading Commission’s (CFTC) request for comment on 24/7 trading and clearing. The...