Robert Pickel
Markit estimates first-day volume of $11 billion on LCDX
The LCDX index of North American loan credit default swaps (LCDS) saw trades totalling over $11 billion notional during its debut on May 22, according to London-based data provider Markit.
ISDA AGM: Credit support agreements grow
The number of credit support agreements between parties trading over the counter derivatives contracts grew 21% to 133,193 since last year, according to the International Swaps and Derivatives Association’s margin survey, previewed last week at its…
CDS market size hits $34.5 trillion, says Isda
The credit default swap (CDS) market has continued its rapid growth, rocketing to $34.5 trillion in notional outstanding by the end of 2006, according to the latest market survey by the International Swaps and Derivatives Association which was released…
Isda welcomes outcome of SG appeal
The International Swaps and Derivatives Association has publicly welcomed a decision by the US Second Circuit Court of Appeals, overturning a ruling that forced Société Générale to pay out on a contentious credit default swap (CDS) contract.
Isda praises letter to Geithner on equity derivatives
The International Swaps and Derivatives Assocation (Isda) has said it “applauds and supports” a letter from 17 investment banks to Timothy Geithner, president of the Federal Reserve Bank of New York, which commits them to improving the efficiency of the…
Credit derivatives grow by 52% in first-half 2006, says Isda
The credit derivatives market is now worth $26 trillion notional after another six months of rapid growth, according to the International Swaps and Derivatives Association.
Isda AGM Singapore: Collateral increases by 19% in OTC trades
The amount of collateral used in the over-the-counter derivatives market has grown annually by 19% to $1.44 trillion, according to the latest data published by the International Swaps and Derivatives Association in its 2006 margin survey.
Isda novations protocol closes with almost 2,000 entities
A total of 1,953 trading entities had signed up to the International Swaps and Derivatives Association’s novation protocol by the time the adherence period closed on November 30. As the deadline approached, a late surge in adherents saw 380 entities…
Playing catch-up
The back office has found it difficult to keep up with front-office trading, prompting a warning by the FSA over the level of unsigned confirmations in the credit derivatives market earlier this year. Banks are now looking to improve the automation of…
Isda publishes Asia ex-Japan equity derivatives agreement
The International Swaps and Derivatives Association has published a master equity derivatives confirmation agreement contract for inter-dealer trades in the Asia-Pacific region excluding Japan.
Automated processing of derivatives increasing, says Isda
Automated trade confirmations account for around one-third of all credit derivatives transactions and 20% of plain vanilla swaps trades, according to the International Swaps and Derivatives Association (Isda).
Credit derivatives volumes explode
Notional outstanding credit derivatives volumes grew by 55% over the second half of 2004, rising from $5.44 trillion to $8.42 trillion, according to a year-end market survey conducted by the International Swaps and Derivatives Association (Isda).
Collateral use in derivatives transactions up to $1.2 trillion
The use of collateral in derivatives transactions has leapt to $1.2 trillion, according to the International Swaps and Derivatives Association’s 2005 Survey. This represents an 18.4% increase over the corresponding figure in the 2004 Survey.
Isda taps new chairs
The International Swaps and Derivatives Association has elected a new chairman and vice-chairman. Jonathan Moulds, head of cross-product strategic trading at Banc of America Securities, has been elected chairman, while Michele Faissola, global head of…
Critical voices
The final Basel II framework has been welcomed by banks, regulators and industry bodies around the globe, but there are still some concerns about certain aspects of the Accord. Bob Pickel, chief executive of Isda, gives the association's views on the new…
Growth in credit derivatives at 29%
Notional volumes in the credit derivatives market now stands at US$3.58 trillion, representing year-over-year growth of 29%, according to trade body the International Swaps and Derivatives Association.
Derivatives risks overstated, say academics
The majority of finance professors at the world’s top business schools believe the risks of using derivatives have been overstated, according to the International Swaps and Derivatives Association.
Isda pushes for automated trade verification for derivatives
The International Swaps and Derivatives Association, the trade body representing over 600 institutions working in the derivatives industry, has moved to accelerate the transition to automated over-the-counter derivatives trade processing by publishing a…
US Senate rejects energy derivatives legislation
The US Senate yesterday voted down proposed legislation that sought to impose tighter controls over energy derivatives trading.
Derivatives industry achieves new targets in confirmation processing, says Isda
The derivatives industry is setting and achieving new targets on confirmation processing, according to the International Swaps and Derivatives Association.
Industry moves to appease investor credit conflicts of interest concerns
A group of leading trade associations today released a draft of “principles and recommendations” regarding the correct set-up of Chinese Walls within the credit divisions of US financial institutions. The move follows criticism from investors – notably…
Isda adds 4pm setting to HK$ IsdaFix
The International Swaps and Derivatives Association has included an additional fixing time of 4pm for its Hong Kong dollar IsdaFix swap rate service.
Isda survey finds credit derivatives market soaring
The credit derivatives market grew 37%, with total notional outstandings reaching $2.15 trillion, in the first six months of last year, according to the latest market survey from the International Swaps and Derivatives Association.
Isda pushed for electronic documentation of complex swaps
The International Swaps and Derivatives Association today released its recommendations for financial products markup language (FpML) version 2.0 for rates products.