Joint association letter to enhance the digital future of the Financial Markets

A letter asserting a joint commitment from eight associations regarding the digitization of the financial markets was distributed on the 29th July to the Secretariat of the Financial Stability Board, the Secretariat of the Basel Committee on Banking Supervision, and the International Organization of Securities Commissions (IOSCO). In total, the International Swaps and Derivatives Association […]

ESMA seeks secondary market experts to join the Consultative Working Group (CWG)

Last Tuesday 4th August 2020, the European Securities and Markets Authority – the EU’s securities markets regulator – announced in a notice, a ‘Call for expression of interest’ in order to renew the composition of the Consultative Working Group (CWG) of the ESMA Secondary Markets Standing Committee (SMSC), as the two-year term of the current […]

Allen & Ovary LLP produce a primer outlining Brexit’s impact on the cleared derivatives market

The primer “Brexit and its Impact on the Cleared Derivatives Market” was released last week by the Futures Industry Association (FIA). The primer, prepared by law firm Allen & Ovary LLP, outlines at a high-level the near-term consequences and appropriate next steps for the cleared derivatives industry, as the United Kingdom (UK) approaches its departure […]

CFTC’s Market Risk Advisory Committee discusses interest rate benchmark reform and CCP risk

The Commodity Futures Trading Commission’s (CFTC) Market Risk Advisory Committee held a public meeting on the July 21st to discuss topics including the impact of the pandemic on derivatives markets, the current status of the transition away from the Libor benchmark, and an upcoming report on climate-related financial risks with representatives of clearinghouses, exchanges and […]

FIA and ISDA support efforts to grant DCOs Central Bank deposit accounts at the U.S. Federal Reserve

The Futures Industry Association (FIA) and the International Swaps and Derivatives Association (ISDA) announced on the 17th July that a signed letter was delivered to U.S. Rep. Emmanuel Cleaver in support of the legislative efforts to grant Derivatives Clearing Organisations[1](DCOs) and Clearing Agencies direct access to U.S. Central Bank deposit accounts offered by the Federal […]