This paper outlines the critical role of interest rate derivatives (IRDs) in supporting the development of financial markets in emerging market and developing economies (EMDEs). It also examines the significance of reliable, robust interest rate (IR) benchmarks, a cornerstone for developing efficient IRD markets. The paper draws valuable lessons from the transition from LIBOR to overnight risk-free rates in advanced economies, applying these insights to the context of EMDEs. Through case studies, it shows how various EMDE jurisdictions have successfully adopted and implemented more robust and transparent IR benchmarks.
Documents (1) for Interest Rate Derivatives, Benchmark Rates and Development of Financial Markets in EMDEs
Latest
ISDA Trading Forum Tokyo: CEO Remarks
ISDA Derivatives Trading Forum Tokyo October 17, 2025 Opening Remarks Scott O’Malia ISDA Chief Executive Officer Good afternoon, and welcome to the ISDA Derivatives Trading Forum. It’s great to be back in Tokyo, and I’d like to begin by...
Future of Asset Management in Japan: CEO Remarks
Future of Asset Management in Japan October 17, 2025 Welcoming Remarks Scott O’Malia ISDA Chief Executive Officer Good morning, and welcome to this ISDA event on the Future of Asset Management in Japan. We’re delighted to be holding this...
New Report on Japan's Asset Management Ambitions
ISDA and Crisil Coalition Greenwich shows that derivatives are expected to play a pivotal role in Japan’s ambition to become a global leader in asset management, but some barriers need to be reduced to enable the country’s asset managers to...
The Derivatives Market in Japan
A healthy derivatives market is an important element to Japan’s plan to become a global leader in asset management. Asset managers are eager to increase their use of derivatives to better take and manage risk, but note that there is...