No-Action Relief Request: Clearing-created Swaps ("firm" or "forced" trades)

No-action relief request for SDs/MSPs who do not undertake reporting responsibilities with respect to Clearing-created Swaps under Rule 45, until such time as the Commission promulgates a rule specifically treating reporting responsibility with respect to Clearing-Created Swaps. One example of such a swap would be a “firm” or “forced” trade – a cleared trade entered into between a DCO and a clearing member pursuant to the testing that a DCO is required to do of the actionable prices clearing members must provide to the DCO as the basis for the DCO’s daily market pricing.

Documents (1) for No-Action Relief Request: Clearing-created Swaps ("firm" or "forced" trades)

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...

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:...