The International Swaps and Derivatives Association (ISDA) and the Linklaters law firm have officially launched an online platform, “ISDA Create — IM,” that automates the production and negotiation of initial margin documentation and the creation of structured legal data to help financial services firm cope with tougher IM compliance requirements coming this year and next…. Read More >>
ISDA’s Best Practices Target CCP Members
The International Swaps and Derivatives Association (ISDA) is setting forth in a new white paper a set of best practices for central counterparty clearinghouses (CCPs) in a bid to prevent troubling defaults that have to then be absorbed by CCP participants. Citing two recent defaults, ISDA says that they represent “the weaknesses in some CCP… Read More >>
CFTC Chairman Unveils Swaps Reform Agenda 2.0
Swaps regulatory reform is the focus of a recent white paper/report, “Swaps Regulation Version 2.0: An Assessment of the Current Implementation of Reform and Proposals for Next Steps,” co-authored by CFTC Chairman J. Christopher Giancarlo and CFTC Chief Economist Bruce Tuckman. The report was unveiled at the annual meeting of the International Swaps and Derivatives… Read More >>
ISDA Survey: Number of Dealers to Shrink While Costs Rise
Respondents to an ISDA derivatives industry survey have expressed optimism about the future of their market, but almost half of those surveyed say that the number of derivatives dealers is declining, and that the cost of using derivatives is increasing. In particular, the survey found that 47.3 percent of respondents say “the number of derivatives… Read More >>
JPMorgan Explores New Blockchain for Debt Issuance
JPMorgan Tests Involve National Bank of Canada JPMorgan tested “a new blockchain platform” for debt issuance with the National Bank of Canada and other large financial services firms, officials announced on April 20. JPMorgan is “is seeking to streamline origination, settlement, interest rate payments and other processes,” according to an official statement. For the test,… Read More >>
ISDA-Led Group Wants to End Libor, Euribor Benchmarks
The International Swaps and Derivatives Association (ISDA) is leading a group of securities industry associations in a drive to move financial markets closer to alternative risk-free rates (RFRs) and away from interbank offered rates, the “ibor” behind the Libor and Euribor benchmarks applied to contracts and business practices. The Libor, Euribor and Tibor benchmarks are… Read More >>
2018 Predictions: Global Markets to Expand Despite Jolts
(Editor’s Note: Predicting what the financial markets, regulators and industry participants will do in 2018 is a challenge as there are so many variables that could undercut prognostications. Yet in a bid to offset chaos, FTF News has put together a round-up of opinions and initiatives from researchers, analysts and executives at the TABB Group,… Read More >>
CFTC Strikes Swaps Equivalency Accord with E.C.
In a step toward the nirvana of harmonization, the CFTC and European Commission (E.C.) moved forward with an agreement to accept the legitimacy of each other’s rules on swap margin agreements and to allow swap trading venues under their jurisdictions to follow their home region’s rules. The two-part agreement covers the comparability of trading platforms… Read More >>
Support Growing for ISDA’s Initial Margin Standard
Support is growing for a new methodology for calculating initial margin for non-cleared derivatives instruments that was developed by the International Swaps and Derivatives Association (ISDA). Simultaneously, exchange and clearinghouse operator, the Intercontinental Exchange (ICE), reports that the ICE Benchmark Administration (IBA) group, a provider of regulated benchmarks, launched a crowdsourcing facility in support of… Read More >>
Belated Spotlights for Triad Securities, Linedata and ISDA
One of the reasons that this blog exists is to spotlight items that can quickly hit and then bounce off our radar. Rather than lose them in the flurry of news, I’m going to give them their 140 characters of fame. Triad Securities Expands Brokerage Triad Securities announced last month that it had expanded its managed… Read More >>
