It is important that EMIR address intragroup transactions in a way that is (a) proportionate and appropriate for the real level of risk involved (taking into account that the client–facing transactions will be either cleared or bilaterally margined (depending on whether the contract is clearing-eligible) and these are internal group back-to-back transactions, which do not increase inter-connectedness in the financial system) and (b) internationally coherent, in such a way that European and US (and other) financial groups can continue to compete for clients on a safe basis, and ensuring that risk management is not compartmentalised geographically (EMIR should not promote trade barriers).
Documents (1) for ISDA-AFMR brief on intragroup transactions (EMIR) of 12 May 2011
Latest
Response to Eurosystem Consultation on Appia
On April 22, ISDA responded to the Eurosystem consultation on the Appia roadmap. ISDA broadly supports the roadmap and its high level principles, while recommending that the principle on market access and integration should be expanded to explicitly address interoperability...
ISDA Responds to ESMA on PTRR Clearing Exemption
On April 20, ISDA submitted a response to the European Securities and Markets Authority (ESMA) consultation paper on a draft regulatory technical standard (RTS) for the post-trade risk reduction (PTRR) exemption from the derivatives clearing obligation under Article 4b of the...
Response on Competitiveness of EU Banking Sector
On April 17, ISDA responded to the European Commission’s (EC) targeted consultation on the competitiveness of the EU banking sector. The EU is aiming to bolster the ability of its financial markets and banking sector to grow, remain competitive and...
India Forum Scott O'Malia Opening Remarks
India Derivatives Markets Forum April 16, 2026 Opening Remarks Scott O’Malia, ISDA Chief Executive Good morning and welcome. This is the third year we’ve run the India Derivatives Markets Forum, and the number of people attending has grown each...