On May 17, ISDA published its views on the European Commission’s proposal to mandate EU clearing participants to clear in Europe. ISDA believes if this requirement is not adequately calibrated, it will create costs and other competitive disadvantages that non-EU competitors will not have to bear, highlighting the trade-off between mandating clearing in Europe and preserving the competitiveness of EU clearing participants. ISDA’s briefing sets out the risks and costs of requiring EU firms to hold an account at EU central counterparties (CCPs) and mandating them to clear a proportion of their business at EU CCPs.
Documents (1) for ISDA Briefing on Risks and Costs of Active Accounts
Latest
Expanding Legal Agreement Coverage in the CDM
This paper examines the recent extension of the Common Domain Model (CDM)1 to represent two of the most significant, and previously undeveloped, areas of its legal agreement model: umbrella agreements and contract amendments. Umbrella agreements are widely used to document...
ISDA Omnibus Canadian Representation Letter
On September 2, ISDA published the Omnibus Canadian Representation Letter, which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The Omnibus Canadian Letter is designed...
Joint Response on Cross-margining
On August 31, ISDA and FIA submitted a letter to the US Commodity Futures and Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) on the agencies’ joint request for comment on the implementation of portfolio margining and cross-margining...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...