On April 7, 2021, ISDA and FIA submitted a joint response to the European Commission (EC)’s consultation on the draft delegated act and accompanying annex to specify the conditions under which the commercial terms for clearing services for over-the-counter derivatives are considered to be fair, reasonable, non-discriminatory and transparent (FRANDT). In the response, the associations thank the EC for the pragmatic changes and refinements they have made in a number of important areas of FRANDT, which will make the rules more proportionate. A number of critical issues are highlighted that should be considered before the FRANDT rules are finalized. These include questions on territorial scope, application of FRANDT to new/prospective clients only, the implementation period, proposed requirements on the refusal of clearing orders, and suspension, liquidation or close out of client positions and notice periods.
Documents (1) for ISDA and FIA Respond to EC’s Consultation on FRANDT Requirements
Latest
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...
Response to EC on Carbon Accounting
On October 5, ISDA responded to the Joint Research Centre (JRC) of the European Commission (EC) survey, drawing on input from five member firms across the banking, exchange and market-data sectors. The response highlighted broad support for internationally recognized carbon...