Over the past decade, significant regulatory reforms have been implemented in order to make derivatives markets safer and more robust. A major test of these reforms came in the first half of 2020, as the COVID-19 pandemic disrupted global financial markets and central banks intervened to provide much-needed liquidity.
While derivatives experienced volatility and liquidity pressures in line with cash markets, they continued to function without any major issues or dislocations reported by policy-makers or market participants.
The performance of derivatives markets during the pandemic reflects important changes and a significant reduction in counterparty credit risk over the past decade. As a result of the financial regulatory reforms, derivatives markets have become safer, more resilient and more transparent.
Documents (1) for Evolution of OTC Derivatives Markets Since the Financial Crisis
Latest
Paper on Proposal 6 on Margin Transparency
On November 16, ISDA published a document that looked at proposal 6 in the final Basel Committee on Banking Supervision (BCBS), Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO) report on margin transparency. Proposal...
Tender Issued for DC Administrator Role
ISDA and the Credit Derivatives Governance Committee have issued an invitation to tender for an independent regulated entity to serve as the administrator for the Credit Derivatives Determinations Committees (DCs), which includes assuming the role of DC secretary. The DC...
ISDA SIMM: The Standard for IM Calculations
The ISDA Standard Initial Margin Model (ISDA SIMM) plays an important role in ensuring margin calculations are consistent, transparent and aligned with global best practices and regulatory requirements. Since its launch in 2016, the model has been rigorously tested, regularly...
ISDA In Review – October 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in October 2025.