Category: ISDA
Mandatory Clearing Looms Large: Will You be Compliant?
Introduction Beginning on 11 March 2013, mandatory clearing will be introduced on a phased basis under the Dodd-Frank Act in relation to “Category 1 Entities” executing “Covered Swaps”. From that day, subject to certain exemptions, it will become unlawful[1]for any Category 1 Entity to engage in any Covered Swap unless the swap in question is […]
ISDA Responds to EU Commission Consultation on RRP for Non-banks
On 23 December 2012, ISDA published a letter sent in response to the EU Commission’s Consultation on a possible recovery and resolution framework for financial institutions other than banks. ISDA’s response focuses mainly on RRP for Central Clearing Counterparties (CCPs). It believes that a common resolution framework should apply to all FMIs (and not just […]
Standard CSA to launch before the end of 2012
Risk Magazine reports that the new standard CSA (the “SCSA”) is to be launched within weeks, with at least two dealers ready to execute with each other under the new document. Beyond this, initial take-up of the SCSA is expected to be slow and largely confined to the largest dealers. However, over time, regulatory developments, […]
ISDA Launches Dodd-Frank Protocol on 13 August 2012
On 13 August 2012, ISDA launched its Dodd-Frank Protocol initiative, designed to help market participants meet the requirements of the following CFTC rules, finalised pursuant to the Dodd-Frank Act: Business Conduct Standards for Swap Dealers and Major Swap Participants; Large Trader Reporting for Physical Commodity Swaps; Position Limits for Futures and Swaps; Real-Time Public Reporting […]