Challenges and opportunities for Isda in 2012
The International Swaps and Derivatives Association has had an eventful 12 months, having instigated legal action against the Commodity Futures Trading Commission for its position limit rules, seen key parts of a new clearing document stamped on by the same agency, and overseen a credit event auction on Greek sovereign debt. Isda chief executive Bob Pickel talks to Nick Sawyer about these events and the association’s priorities for the year ahead
The unexpected has become the norm in the post-Lehman world, where it has been shown that even European sovereign nations can endure a credit event. There is still room for surprises, though. While the situation in Greece rumbled on for months, culminating with a debt restructuring in March that many had predicted long in advance, a decision by the International Swaps and Derivatives Association to file a lawsuit against the Commodity Futures Trading Commission (CFTC) late last year came like a
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