Regulators around the world are revising their rules to incorporate globally agreed data standards to improve the cross-border consistency of what is reported and the format in which it is submitted. While more aligned, the rules won’t be identical – variations will continue to exist, meaning firms cannot take the work completed for one jurisdiction and apply it to another. Each set of requirements will need to be individually reviewed, interpreted and then applied, but there’s no guarantee each firm will interpret the requirements in the same way, leading to errors, inconsistencies and the potential for regulatory censure for those firms that get it wrong.
ISDA’s Digital Regulatory Reporting initiative addresses this by establishing a golden-source interpretation of each rule set, reviewed and agreed by an industry committee. The Common Domain Model – a free-to-use data standard for financial products, trades and lifecycle events – is used to convert this mutualized interpretation into free, machine-readable code.
Click here to read the factsheet.
Latest
Joint Response to FCA and HMT Consultations
On January 16, ISDA and UK Finance responded to both the consultation on streamlining the UK European Market Infrastructure Regulation (UK EMIR) intragroup regime by the Financial Conduct Authority’s (FCA) and the draft statutory instrument from His Majesty’s Treasury (HMT)....
Key Trends in OTC Derivatives Market H1 2025
The latest data from the Bank for International Settlements (BIS) over-the-counter (OTC) derivatives statistics shows an increase in notional outstanding of OTC derivatives during the first half of 2025 compared to the first half of 2024. Notional outstanding rose across...
Credit Derivatives Trading Activity Q3 2025
This report analyzes credit derivatives trading activity reported in Europe. The analysis shows European credit derivatives transactions based on the location of reporting venues (EU versus UK) and product type. The report also compares European-reported credit derivatives trading activity to...
Striking a Balance on EU Market Risk Capital
With US prudential regulators poised to publish a revised Basel III endgame proposal this year, and EU and UK regulators moving to finalize their own rules, ISDA is maintaining a laser focus on achieving a risk-appropriate capital framework that is...