International Swaps and Derivatives Association (Isda)
Conflict's end
The second phase of the International Swaps and Derivatives Association's collateral dispute resolution protocol prescribes a market polling mechanism for settling disputes involving illiquid and complex transactions. How will the market poll work and…
Net results
A master agreement for over-the-counter Islamic derivatives is in the final review stages and could be published as early as next month. After years of debate, the difficult issue of close-out netting appears to be close to resolution. By Alastair Marsh
Custody battle
Following the losses suffered in the wake of the collapse of Lehman Brothers last September, hedge funds are increasingly looking to place initial margin with bankruptcy-remote third-party custodians. But prime brokers are staunchly refusing to surrender…
Going electronic
Collateral management functions currently exchange margin call notices and confirmation of interest payment by email, but the need for automation is becoming more urgent. The industry is looking to define the sequence of messages that would need to be…
Central clearing will need new laws, Isda report finds
New laws will be needed in the US and Europe to support the introduction of central clearing of credit default swap (CDS) trades, according to a study published yesterday by the International Swaps and Derivatives Association.
Trade set and match
The ultimate objective of regulators and participants in the derivatives business is to see submission and matching on the date of trade. How far is the industry from reaching this goal? By Ryan Davidson
Damage limitation
Efforts are under way to formalise the resolution process for collateral disputes, while other initiatives are planned to improve processes for posting collateral, valuation and margin practices. What are the challenges to meeting these targets? Ryan…
Repercussions from rupiah stability
Regulation radar - Indonesia
Isda CEO addresses US Senate banking subcommittee
Daily news headlines
Basel changes could "kill off correlation trading”
Proposed changes to the Basel II Accord’s trading book regime, due in early July, will make correlation trading uneconomical unless a compromise can be found, say dealers.
Isda aims to improve collateral management processes
The International Swaps and Derivatives Association’s collateral committee has revealed a set of goals for improvements to collateral management processes.
Isda chief addresses House on OTC derivatives
Daily news headlines
Industry panel: avoid one-size-fits-all approach to OTC derivatives
A panel of industry experts on June 9 urged the US House Financial Services Subcommittee to steer clear of broad, one-size-fits-all regulation for over-the-counter derivatives.
OMG commits to new clearing and reporting targets
The Operations Management Group (OMG) on June 2 outlined its latest targets to improve the operational infrastructure of the over-the-counter derivatives industry.
With a bang
Isda's big bang protocol has standardised the credit default swap market, giving buy-side credit firms a voice but also stripping some flexibility from the market. However, the new regime is posing some challenges for end-users. Peter Madigan reports
Sell suits
A number of lawsuits have emerged across the globe, with disgruntled corporates alleging they were sold unsuitable derivatives products and were unaware of the risks involved. Will changes to bank selling practices emerge as a result? By Christopher…
Syncora worth 15%, according to credit derivatives auction
A May 27 auction has determined a final settlement value of 15 cents on the dollar for credit default swaps (CDSs) referencing Bermuda-based Syncora Guarantee, the monoline formerly known as XL Capital Assurance.
OTC trade repository plan faces hurdles
Financial authorities in the US and Europe have advocated the introduction of a central trade repository to gather data on the over-the-counter (OTC) derivatives market, but there is concern that multiple repositories could do more harm than good.
Isda's Handjinicolaou moves to Hellenic Capital Markets Commission
George Handjinicolaou, the deputy chief executive officer and regional director for Europe, the Middle East and Africa (EMEA) at the International Swaps and Derivatives Association, has joined the Hellenic Capital Markets Commission (HCMC).