French banking giant BNP Paribas and the International Swaps and Derivatives Association (ISDA) report that in a bid to transform post-trade operations for over-the-counter (OTC) derivatives they “successfully implemented and tested” a way to facilitate the digital reporting of swaps data that conforms to revised rules to come from the U.S. Commodity Futures Trading Commission… Read More >>
ISDA’s CDM Pilot Clears Interest Rate Derivatives
Pilot Also Uses the Digital Asset Modeling Language ISDA’s Common Domain Model (CDM) was part of a proof-of-concept implementation that clears interest rate derivatives with the help of an open-source smart contract language, the Digital Asset Modeling Language (DAML) from vendor Digital Asset, officials say. “Using the CDM for clearing and deploying it on a… Read More >>
Apifiny Launches Blockchain-based Settlement Network
‘Roxe’ Pitched as a New Way to Clear & Settle Apifiny, a San Francisco-based global transfer network services provider, has officially debuted a settlement network based on blockchain technology, dubbed Roxe, that has been designed for “instant global clearing and settlement of payments and remittances, traditional assets, and digital assets,” according to the vendor…. Read More >>
SIMM Is Riding Out the Volatility Storm: ISDA
The global, economic tsunami caused by the COVID-19 pandemic is, among other things, spurring questions about the best way firms can calculate initial margin (IM), given the recent onset of wildly volatile financial markets. As you will recall, IM is essential for firms that engage in derivative transactions that are not centrally cleared. Firms are… Read More >>
ETFs Added to U.K.’s Investment Association Sectors
ETFs To Be Compared Against IA’s 37 Fund Sectors The U.K. industry group Investment Association (IA) has agreed to let exchange traded funds (ETFs) join the IA sectors, officials say. The IA represents U.K. asset managers and supports British savers, investors and businesses, officials say. The association has 250 members that oversee £7.7 trillion of… Read More >>
ISDA Pushes Digital Asset Tool for CDM Adoption
The International Swaps and Derivatives Association (ISDA) has been working with distributed ledger technology (DLT) pioneer Digital Asset to build an open-source reference code library that will help the derivatives industry embrace the ISDA Common Domain Model (CDM), a blueprint for the representation of derivatives trade events and processes. Digital Asset has built “an open-source… Read More >>
Deutsche Bank Clients Using LCH CDSClear
First German Bank to Use CDSClear Deutsche Bank is the first German bank to offer its clients clearing via CDSClear, and asset management firms MEAG and Union Investment are clearing European and U.S. credit default swap (CDS) instruments via global clearinghouse group LCH. “Offering clients access to LCH CDSClear will provide them with more… Read More >>
Firms Secured $158 Billion in IM Last Year
The level of initial margin (IM) gathered in 2018 by 20 top securities firms for non-cleared derivative transactions grew by 47 percent to approximately $157.9 billion compared to $107.1 billion at the end of March 2017, according to the latest margin survey of the International Swaps and Derivatives Association (ISDA). The survey results, released at… Read More >>
ISDA Publishes CDM Blueprint for the Industry
ISDA Wants CDM to Restructure the Market The International Swaps and Derivatives Association (ISDA) has published the “full version of the ISDA Common Domain Model (CDM) for interest rate and credit derivatives,” which ISDA officials hope will serve as “a common blueprint” for restructuring the foundations of the market. To facilitate that restructuring, ISDA will… Read More >>
How to Cope With UMR Compliance: Q&A
(Editor’s Note: Much has been made about buy-side firms and if and when they will have to comply with Uncleared Margin Rules (UMR) and key requirements of the European Union and the U.S. The industry has started to focus on the operational processes they will need in order to comply with the Basel Committee on… Read More >>
