ISDA has launched the ISDA Notices Hub and the ISDA 2025 Notices Hub Protocol, giving users a faster and more efficient method for delivering critical notices and reducing the uncertainty and risk of losses that can result from delays.
The ISDA Notices Hub is a secure online platform provided by S&P Global Market Intelligence that enables fast delivery and receipt of termination notices and waivers and ensures address details for physical delivery are updated centrally. The platform is free for buy-side firms and dealers benefit from a discounted rate for the first two years of operation.
The ISDA 2025 Notices Hub Protocol enables firms to efficiently update their documentation with other adhering parties to allow the ISDA Notices Hub to be used. As of launch, 79 entities from North America, Europe and Asia-Pacific have adhered to the protocol, including dealers, asset managers, pension funds and insurance companies. The protocol is free for all market participants.
Under the ISDA Master Agreement, time-critical termination notices must be delivered by certain prescribed methods including physical delivery, using company address details listed in the agreement. However, delays can occur if a company has moved and the documentation hasn’t been updated, or if delivery is not possible due to a pandemic or geopolitical shock. Hold-ups and uncertainty over the delivery of notices can lead to losses running to millions of dollars.
The ISDA Notices Hub reduces these problems by enabling firms to deliver notices quickly and efficiently via a secure online platform. In response to member demand, waivers can also be exchanged, including those for net asset threshold events. Automatic notifications are sent to designated people at the receiving entity who can access the ISDA Notices Hub from anywhere in the world, even if an office is closed. The ISDA 2025 Notices Hub Protocol also requires market participants to update their address details in all their agreements, which can be achieved using the platform via a single entry, creating an up-to-date golden source.
“When a counterparty fails, the last thing anyone needs is to experience problems delivering the termination notices necessary to close out and value affected trades. By adopting the ISDA Notices Hub, market participants will ensure these notices are sent instantly and securely, reducing risk and minimizing the losses that can result from delays,” said Scott O’Malia, ISDA’s Chief Executive.
“S&P Global Market Intelligence is proud to collaborate with ISDA to launch the ISDA Notices Hub, a pioneering platform that transforms the delivery of critical notices in the derivatives market. This secure, user-friendly solution accelerates the exchange of time-sensitive notices, reducing financial risks associated with delays and enhancing market efficiency,” said Brittany Garland, Head of Regulatory & Compliance Solutions, S&P Global Market Intelligence.
More information about the ISDA Notices Hub is available here.
The ISDA 2025 Notices Hub Protocol is available here.
Watch an animation about the ISDA Notices Hub here.
For Press Queries, Please Contact:
Nick Sawyer, ISDA London, +44 20 3808 9740, nsawyer@isda.org
Christopher Faimali, ISDA London, +44 20 3808 9736, cfaimali@isda.org
Nikki Lu, ISDA Hong Kong, +852 2200 5901, nlu@isda.org
Documents (1) for ISDA Launches Notices Hub and Protocol to Streamline Delivery and Receipt of Critical Notices
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