International Swaps and Derivatives Association (Isda)
Isda working group close to finalising standard CSA
Latest proposal extends number of silos from five to 17, mirroring approach taken by LCH.Clearnet
Identifiers will place significant technology demands on industry, say dealers
Progress to create a new set of industry standard codes to identify institutions, products and transactions is moving forward as regulatory reporting deadlines loom, but it remains one of the biggest market structure challenges of 2012 for FX banks,…
G14 dealer group adds two members
Nomura joined the group at the end of August, while Crédit Agricole is expected to join in the first quarter next year - in part a response to regulator criticisms that the group had become too exclusive
Riccardo Rebonato quits RBS for Pimco
Ex-head of front-office risk management and quantitative research will join Pimco on December 1 as head of rates and FX analytics
Academic opposition to FX exemption debated at Isda’s Europe conference
Speaking in London on September 20, Craig Pirrong supports the unpopular position of fellow academic Darrell Duffie that FX swaps and forwards should not necessarily be exempt from the mandatory clearing requirements of the Dodd-Frank Act, as recommended…
Isda to review close-out value definitions
Absence of a standard approach is stifling attempts to value termination clauses, dealers complain
New standard CSA could be rolled out in Q2 2012
An implementation plan for the new standard CSA is set to be reviewed by the Isda board in September, with a first-phase rollout expected as early as the second quarter of 2012
Trading Places, September 5, 2011
A round-up of the latest movers and shakers for the week commencing September 5, 2011
Grensted parts company with LCH.Clearnet
The clearer's head of business development - and one of SwapClear's architects - left the firm on July 8
Trade associations lobby for clarity on extraterritoriality
Eight trade associations lobby Geithner and Barnier to address extraterritorial concerns
DTCC and Swift eye FX trade repository
New York-based group set to develop trade repository for every other OTC asset class and has pitched for FX in partnership with Swift
Clearing discussion still in flux, says Esma chair
In his first public speech since becoming head of key regulatory body, Steven Maijoor gives no hint as to whether FX swaps and forwards might be exempted from mandatory clearing
New CFTC documentation rules could force Isda master modifications
Proposed US rules might require changes to standardised global derivatives agreement
Asia Risk Congress 2010: Asian banks prepare for national clearing houses
Several Asian nations could compel their banks to clear swaps in-country - others seek to join foreign CCPs on special terms
China beefs up derivatives master agreements; possible Isda friction?
Efforts by Nafmii to bolster the definitions of China’s over-the-counter derivatives master agreements should help market development. But there are concerns about potential copyright infringement related to Isda master agreements.
LCH.Clearnet may offer 'lite' membership to sovereigns
Clearer's plans to create a special membership category for central banks and other sovereigns could undermine CCPs' risk-mutualisation model, rivals claim.
Liquidity critical to OTC clearing, argue dealers
Regulators should consider liquidity when deciding which over-the-counter derivatives should be cleared, say market participants
EC derivatives consultation stops short of detail on corporate exemptions
BRUSSELS - A consultation paper on derivatives markets infrastructure published on June 14 by the European Commission gives extensive detail on requirements for central counterparties (CCPs) that clear over-the-counter derivatives, but has stopped short…
Bilateral collateral agreements up in 2010
SAN FRANCISCO - Bilateral collateral agreements make up 83% of all collateral agreements in circulation in the over-the-counter derivatives market this year, versus 75% last year, according to a survey by the International Swaps and Derivatives…
Isda delays FpML version 5.0
Isda is running behind schedule in releasing version 5.0 of its financial products markup language (FpML).
Isda moves to improve consistency of documentation
Search for consistency in documentation
Credit concerns grow as Chinese companies shun new documentation
China derivatives market regresses on documentation standardisation
