On October 14, ISDA submitted comments to the US Securities and Exchange Commission in response to the Fixed Income Clearing Corporation’s (FICC) recently published amended, proposed rule changes related to default management processes. ISDA supports FICC’s efforts to expeditiously clarify how its default management rules apply in the context of done-away clearing. In the letter, ISDA makes recommendations that would further ensure FICC’s rules fully enable close-out netting for done-away transactions.
Documents (1) for ISDA Submits Letter to FICC on Default Management Rules Relating to US Treasury Clearing
Latest
Global FX Derivatives Market Overview
Global FX derivatives average daily turnover reached $6.6 trillion in April 2025, roughly double its level in April 2013. While FX swaps remain the largest segment in absolute terms, recent growth has been driven by outright forwards and FX options,...
Safe, Efficient Markets for SFTs
Securities financing transactions (SFTs) – including repurchase agreements (repo), securities lending, buy/sell backs and margin lending – are foundational to the functioning of modern financial markets. They support the day-to-day distribution of liquidity, enable collateral to move efficiently across cash...
ISDA, GFXD, UK Finance, LMA Respond to HMT on UK BMR Reform
On March 11, ISDA, the Global Foreign Exchange Division of the Global Financial Markets Association, UK Finance and the Loan Market Association responded jointly to a consultation from His Majesty’s Treasury on the future regulatory regime for benchmarks and benchmark...
ISDA Recommendations to Simplify EU Regulation
On March 9, ISDA submitted a paper to the European Commission setting out focused proposals to improve the functioning of the EU regulatory framework for derivatives. The paper comprises eight targeted recommendations to simplify selected Level 1 provisions in a...