On March 6, ISDA submitted a response to the UK Financial Conduct Authority’s (FCA) consultation on improving transparency for bond and derivatives markets. In the response, ISDA recommends the framework be calibrated to allow for longer deferrals for larger trades and smaller real-time size thresholds for sterling swaps to avoid adverse effects on pricing, which would be detrimental to UK markets and investors. The response also includes recommendations on the categorization of over-the-counter derivatives, the role of trading venues and the FCA in the calibration of transparency requirements, improvements to the fields and flags for post-trade reporting and the definition of a systematic internalizer.
Documents (1) for ISDA Response to FCA on Transparency in Derivatives Markets
Latest
US FX Derivatives Review
ISDA has expanded its SwapsInfo website to include data on US foreign exchange (FX) derivatives, extending the platform's coverage beyond interest rate and credit derivatives to a third over-the-counter derivatives asset class. The US FX Derivatives Review covers trading activity...
Response to FCA on Post-trade Transparency
On October 16, ISDA responded to the Financial Conduct Authority’s (FCA) consultation CP26/30. While the consultation is principally focused on cash equity market structure and transparency, ISDA responded to questions on the potential inclusion of equity swaps in the scope...
Efficiency is Vital to Delivering Resilience
With less than three months to go until implementation of US Treasury clearing begins at the end of this year, it’s critical that the mandate is safely implemented without compromising market efficiency. This represents a huge change in market structure,...
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.