On April 11, 2024, International Swaps and Derivatives Association, Inc. (ISDA), the Institute of International Finance (IIF), and their respective members submitted a response to the BCBS-IOSCO-CPMI Review of Margining Practices (September 2022) which are reflected in the BCBS-IOSCO WGMR consultative report on Streamlining VM Processes and IM Responsiveness of Margin Models in Non-Centrally Cleared Markets (the “Report”).
ISDA’s Collateral Initiatives work responds to our members’ goals to reduce collateral management costs and risks by automating and streamlining collateral management, including documentation and onboarding, margin call and settlement, and collateral optimization.
ISDA is committed to ensuring the longevity of the ISDA SIMM®, a robust, regulatory compliant and effective global initial margin model. Dialogue with global regulators has resulted in the adoption of a number of enhancements to the SIMM Governance Framework.
Documents (1) for BCBS-IOSCO WGMR Consultation Response – Streamlining VM Processes and IM Responsiveness of Margin Models in Non-Centrally Cleared Markets
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...