ISDA response to HMT highlighting the following issues:
1. What indirect clearing requires – the policy view expressed in the consultation
2. Agency vs principal arrangements at indirect clearer level – the substantive
conclusion
3. Regulatory capital and netting implications
4. Handling of collateral
5. Cross-border arrangements
6. Implementation intentions in other EU member states
7. Powers of direction over clearing members
8. Cross border non-EEA structures
9. Achievability of individual segregation indirect clearing arrangements
Documents (1) for ISDA-BBA Preliminary response to HMT re. indirect clearing
Latest
Efficiency is Vital to Delivering Resilience
With less than three months to go until implementation of US Treasury clearing begins at the end of this year, it’s critical that the mandate is safely implemented without compromising market efficiency. This represents a huge change in market structure,...
ISDA In Review – September 2026
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in September 2026.
ISDA Digital Assets Forum Opening Remarks
ISDA Digital Assets Forum Washington, DC October 6, 2026 Opening Remarks Scott O’Malia, CEO, ISDA Good morning, and a very warm welcome to the ISDA Digital Assets Forum. Thanks for joining us today, and a special thank you to...
Assessing Tokenized MMFs as Eligible Collateral
Distributed ledger technology and digital assets have matured from their early stages to solutions capable of addressing longstanding inefficiencies in collateral management. Tokenized money market funds (TMMFs) represent a particularly promising area for the application of this technology, combining the...