In 2016, ISDA launched the ISDA SIMM™ Crowdsourcing Facility, operated by ICE Benchmark Administration, to harmonize certain firm level inputs to the ISDA SIMM™ to reduce disputes in initial margin calls.
Differences in firm sources which determine the risk buckets for the Credit and Equity risk classes may result in discrepancies in the assigned risk bucket, leading to discrepancies in the IM amount. The ISDA SIMM Crowdsourcing Facility is an industry utility created to reduce such discrepancies by using crowd-sourced data analytics to help resolve disputes regarding the appropriate risk bucket for the SIMM calculation. In the event of a bilateral discrepancy in the risk bucket for the credit or equity risk classes, the ISDA SIMM Crowdsourcing Facility has been designated as the default utility for resolving disputes, but parties may mutually agree otherwise.
ISDA encourages firms to participate in the ISDA SIMM Crowdsourcing Utility. For additional information, see the Fact Sheet below, contact IBA@theice.com or consult IBA’s website: https://www.theice.com/iba/isda-simm/crowdsourcing-facility
Documents (2) for ISDA SIMM Crowdsourcing Facility
Latest
ISDA Publishes SPS Matrix Version 1.02
On December 19, 2025, ISDA published an updated version (v1.02) of the ISDA Digital Asset Derivative Definitions Settlement Price Source Matrix (‘SPS Matrix”). The SPS Matrix contains a list of Settlement Price Sources (SPSs) and related terms that parties can...
From Milestone to Modernization
We’re coming to the end of an exceptionally busy year at ISDA, in which we celebrated our 40th anniversary and doubled down on our enduring commitment to safe and efficient derivatives markets. Reflecting on ISDA’s achievements since 1985, it’s clear...
Response on ASIC Derivative Transaction Rules
On December 3, ISDA submitted a response to the Australian Securities and Investments Commission (ASIC) consultation on the remake of the ASIC Derivative Transaction Rules (Clearing) 2015, which are due to sunset on April 1, 2026. ASIC proposed to remake...
IRD Trading Activity Q3 2025
This report analyzes interest rate derivatives (IRD) trading activity reported in Europe. The analysis is based on transactions publicly reported by 30 European approved publication arrangements (APAs) and trading venues (TVs). Key highlights for the third quarter of 2025 include:...