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, FIA and SIFMA Letter on Sunset of Swaps LTR Rules (Part 20)
On May 20, 2026, ISDA, FIA and SIFMA submitted a joint letter to U.S. Commodity Futures Trading Commission (CFTC) to request the CFTC to sunset large trader reporting rules (LTR) rules for physical commodity swaps pursuant to Regulation 20.9.
ISDA-SIFMA Letter – CFTC-SEC Harmonization
On May 19, 2026, ISDA and SIFMA submitted a joint letter to the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on SEC and CFTC harmonization, as part of the agencies’ Joint Harmonization Initiative which...
ISDA AGM Studio: Jim Byrd, RBC Capital Markets
Jim Byrd, global head, macro products, at RBC Capital Markets, joins the ISDA AGM studio to discuss the main risks and opportunities in the current trading environment and what needs to be done to avoid liquidity squeezes during periods of...
ISDA AGM Studio: Michelle Beck, FCA
Michelle Beck, director for wholesale buy‑side oversight at the Financial Conduct Authority, speaks with ISDA’s global head of public policy, Steven Kennedy, about the regulatory approach to systemic risk in non‑bank financial intermediation after a panel discussion on how robust...