On September 20, 2019, ISDA sent a letter to the European Commission, co-signed by EBF (European Banking Federation), EACB (European Association of Co-operative Banks (EACB) and ESBG (European Savings and Retail Banking Group), discussing the need to implement equivalence decisions for intragroup transactions as well as possible negative impacts of not extending the intragroup transactions derogation for non-cleared derivatives under EMIR Margin RTS.
The letter suggests priority jurisdictions for the European Commission’s equivalence programme in relation to intragroup transactions, outlining jurisdictions which have implemented – or will soon have implemented- BCBS-IOSCO compliant Margin requirements, hence a legal basis for equivalence determinations by the European Commission. Furthermore, the letter outlines possible negative impacts for banks engaging in various third country jurisdictions if the current derogation on intragroup derogation is not extended.
Documents (1) for Joint Trade Associations Letter on Priority Jurisdictions for Equivalence Decisions Regarding Non-cleared Derivative Intragroup Transactions
Latest
IRD Trading Activity Q3 2025
This report analyzes interest rate derivatives (IRD) trading activity reported in Europe. The analysis is based on transactions publicly reported by 30 European approved publication arrangements (APAs) and trading venues (TVs). Key highlights for the third quarter of 2025 include:...
Ardagh Credit Event Processing and Trading
The Credit Derivatives Determinations Committee announced on December 15 that a restructuring credit event has occurred with respect to Ardagh. An ISDA Credit Market Infrastructure Group call was held on December 15 to discuss the processing of this event. The...
Future Path - IQ December 2025
At the start of ISDA’s 40th anniversary year, IQ convened the pioneers of the association to reflect on how a desperate need for standardization in the early days of the derivatives market brought dealers together to develop a dictionary of...
Steps to a Vibrant Derivatives Market: SOM Remarks
Steps to a Vibrant and Resilient Derivatives Market December 4, 2025 Remarks at the Mediterranean Partnership of Securities Regulators Scott O’Malia ISDA Chief Executive Officer Good afternoon and thank you to the Mediterranean Partnership of Securities Regulators (MPSR) for...