On June 10, ISDA submitted a response to the European Commission’s (EC) consultation on the integration of EU capital markets. The consultation was launched as part of the EC’s Savings and Investment Union project. In the response, ISDA addressed themes such as:
- Burden reduction in financial reporting and in sustainable finance disclosures.
- Protection of the ability of EU firms to operate in global markets, under the Settlement Finality Directive, European Market Infrastructure Regulation (EMIR) and the Markets in Financial Instruments Regulation.
- Preserving multilateral netting and collateral certainty for derivatives business where uncertainty is currently manifest in the EU framework.
- ‘Wait and See’ as regards to more centralized EU supervision of EU central counterparties following the effectiveness of EMIR 3.
- Less encumbered ‘no action’ powers for the European Securities and Markets Authority.
Documents (1) for ISDA Response to European Commission Consultation on Integration of EU Capital Markets
Latest
Response on Scope of BMR
On July 28, ISDA and the Global Foreign Exchange Division of the Global Financial Markets Association responded to the European Commission’s (EC) consultation on the need to exempt spot foreign exchange (FX) benchmarks under Article 18a of the EU Benchmarks...
Strengthening DC Governance
The Credit Derivatives Determinations Committees (DCs) play a vital role. Without a single, industry-wide determination on whether a credit event has occurred, it simply wouldn’t be possible to clear credit default swaps (CDS), making the market less safe and less...
ISDA CSA Significant Errors Notification SOP
The ISDA CSA Notification of Significant Error or Omissions Suggested Operational Practices (SOP) considers current institutional processes and outlines suggested operational practices related to the new requirement under §26.3(2) of the Canadian Trade Repositories and Derivatives Data Reporting rules rewrite...
ISDA Paper on UPI Identifiers
On July 16, ISDA submitted a paper (UPI as the Foundation for OTC Derivatives Reporting: The Case for UPI) to the UK Financial Conduct Authority (FCA). The paper was developed to complement ISDA’s response to the FCA’s discussion paper DP24/2:...