On November 12, ISDA, along with 13 other trade associations, wrote to the European Commission to ask them to extend the temporary equivalence until the date 18 months after entry into force of the relevant Commission delegated acts under EMIR 2.2, plus an additional three month period to allow UK CCPs to serve termination notices to EU clearing members in the event that their recognition is withdrawn following ESMA’s review.
It is important for the purpose of maintaining financial stability in the event of a “No Deal” Brexit for the Commission to provide this certainty in a timely fashion. We respectfully but urgently request the Commission to provide this confirmation well in advance of the end of December 2019 in order to mitigate the effects on EU counterparties and clearing members in the event that UK CCPs cannot obtain permanent recognition prior to March 30, 2020.
Documents (1) for Joint Trade Associations Letter on CCP Recognition and Equivalence
Latest
Cross-product Netting Under US Capital Rules
ISDA, FIA and the Securities Industry and Financial Markets Association (SIFMA) have developed a discussion paper to: (i) provide an overview of cross-margining programs developed by clearing organizations and their importance in the context of implementing recent market reforms with...
ISDA/IIB/SIFMA request to extend 22-14
This joint ISDA/IIB/SIFMA letter requests reporting relief for certain non-US swap dealers in Australia, Canada, the European Union, Japan, Switzerland or the United Kingdom with respect to their swaps with non-US persons. The joint trade association letter, submitted to CFTC...
ISDA In Review – March 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in March 2025.
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.