The International Swaps and Derivatives Association (ISDA) announced on the 7th May of two new directors to its board. Eric Litvack ISDA’s Chairman, announced that Tina Hasenpusch (Managing Director, Global Head of Clearing House Operations, CME Group) and Taihei Okabe (Managing Director, Head of Derivatives Trading, Mizuho Securities Co., Ltd) have joined ISDA’s Board.
“We are very fortunate to have two such highly experienced, senior market professionals join the ISDA Board. As we deal with and absorb the lessons from the coronavirus outbreak, Tina and Okabe-san’s input and insight will be extremely valuable in helping to ensure the derivatives market continues to be safe and efficient,” said Eric Litvack
Scott O’Malia, ISDA’s CEO, mentioned that these next two years are crucial for the derivatives industry as the markets face a transition from interbank offered rates (IBOR’s) to Risk-Free Rates (RFR’s), in parallel with a review for the market structure following the COVID-19 pandemic. O’Malia states that the ISDA Board will maintain continuity of Board members and that leading infrastructure providers maintain a core role in these discussion topics.
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