International Swaps and Derivatives Association (Isda)
Isda: Inconsistency among regulators worrying
Dodd-Frank's extraterritoriality and supervisory focus on market structure reforms that will not deliver systemic risk reduction are concerns, says Isda chair Stephen O’Connor
Standard CSA: Industry's solution to novation bottleneck gets nearer
New CSA, new challenge
Clearing of Chilean NDFs hampered by netting uncertainty
The Central Bank of Chile has the authority to stop financial institutions netting down their transactions, which participants fear might prevent central counterparties from being able to clear contracts denominated in the Chilean peso
Delayed Basel trading book review will be broad, say supervisors
Basel Committee is expected to consider wide range of topics, including VAR, liquidity, CVA and the line between banking and trading books - but overall capital requirements are not likely to change
Basel 2.5: regulators still wrestling with Dodd-Frank clash
Barriers to Basel
FIA-Isda group runs rule over Sef credit check plans
The OTC market still does not know how to provide certainty that a trade will be cleared - but an FIA-Isda meeting in New York gave attendees a chance to look at what is on offer
Non-bank commodity traders should adopt Fed letter commitments, says BP executive
BP's Alan Haywood says non-banks need to consider Fed letter commitments for the good of the industry
Canadian OTC derivatives repository unnecessary, say market participants
Critics argue a Canadian OTC derivatives repository would lead to fragmented and inconsistent data
The Fed commitment letter process is alive and well, say Isda panellists
FSA's Bailey says the commitment letter process is better for firms than having the regulator "kicking over their books"
CCP interoperability not achievable in near term, say clearers
CCP interoperability will not resolve fragmentation in the OTC markets, say panellists at Isda Europe conference in London
ICB bail-in proposal revives CDS fears
CDS contracts would not trigger in the event a bail-in bond is written down, say lawyers – threatening their use as a hedge
Give-up agreement can survive CFTC attack, Isda event told
Despite a CFTC proposal that attacks an industry clearing document, the core of the text can survive, says lawyer at Isda's New York conference
Isda to review close-out value definitions
Absence of a standard approach is stifling attempts to value termination clauses, dealers complain
People: Citi ramps up listed and OTC clearing
Citi ramps up listed and over-the-counter clearing
Obstacles facing dealers' dream of a global OTC data repository
The database race
CFTC proposals leave cloud over FIA-Isda clearing contract
Grey skies over give-ups
Standard CSA: Industry's solution to novation bottleneck gets nearer
New CSA, new challenge
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 roll-out expected as early as the second quarter of 2012
CFTC's Sommers: Blocking FIA-Isda document was "huge waste of resources"
A proposal prohibiting an Isda-FIA clearing document highlights rift within CFTC, with Republican appointees claiming they were kept in the dark
The push to a new CSA standard
Disputes over the valuation of trades backed by multi-currency credit support annex (CSA) agreements – in other words, those that allow counterparties to post collateral in multiple currencies and assets – has pushed the industry to develop a new…
Wave of new regulation brings inconsistencies and loopholes
Divergent paths
Risk head leaves Isda
David Murphy leaves Isda, to be replaced on an interim basis by Peter Sime, the association's recently appointed head of research
CME, Ice to launch repositories rivalling the DTCC
Banks have picked the DTCC to build a series of new derivatives repositories, but overlooked rivals CME and Ice vow to fight on
Basel III charge could spur interest in CCDS
Development of CCDS could be pushed ahead by Basel III CVA charge, suggest market participants