Thomson Reuters Session 1: Investment Management, Hedge Funds and Registered Mutual Funds: What's Happening Now?
The International Swaps and Derivatives Association (ISDA) recently announced the launch of the ISDA Notices Hub and the ISDA 2025 Notices Hub Protocol....more
The Financial Markets Standards Board (FMSB) has published a spotlight review on ways to improve uncleared margin for OTC derivatives, along with a press release. It builds on findings from the Bank of England's Post-Trade...more
The International Swaps and Derivatives Association, Inc. (ISDA) recently commissioned law firm Linklaters to conduct an independent assessment of the function, governance and membership of the Credit Derivatives...more
On September 28, 2023, the Nitijela of the Republic of the Marshall Islands (“Nitijela”) during the 44th Constitutional Regular Session, 2023, enacted the Netting Act, 2023 (the “Netting Act”), which was certified by the...more
The current COVID-19 pandemic has led to huge disruption in financial markets and larger collateral swings. This note sets out some issues market participants may need to consider in relation to collateral under OTC...more
With the continuing spread of the COVID-19 pandemic across the globe, its full implications remain unknown. For OTC derivatives market participants, COVID-19 raises a number of considerations that firms should take into...more
1. What is LIBOR and why is it going away? The London Interbank Offered Rate, or “LIBOR,” is a reference rate commonly used in a broad range of financial contracts. In fact, it serves as a reference rate for tens of...more
ISDA has reopened the CDS NTCE Protocol prior to its effective date on Jan. 27, 2020. The Protocol will remain open for adherence until noon on Friday, Jan. 24, 2020. ...more
BROKER-DEALER - FINRA Warns Investors of Potential Stock Fraud in Wake of Hurricane Dorian - The Financial Industry Regulatory Authority (FINRA) recently released an investor alert cautioning investors of potential...more
In 2012, the Wheatley Review recommended reform rather than replacement of LIBOR, on the basis that a transition to a new benchmark would pose an unacceptably high risk of financial instability. Reform came in the form of a...more
On July 28, 2017, ISDA published the ISDA 2017 OTC Equity Derivatives T+2 Settlement Cycle Protocol (Protocol) which will enable participants to adjust the settlement cycle of certain of their OTC equity derivatives...more
CFTC Delays Reduction in Swap Dealer De Minimis Exception Threshold - On October 13, 2016, the Commodity Futures Trading Commission approved an Order delaying for one year the reduction of the threshold for determining...more
On August 16, 2016, the International Swaps and Derivatives Association, Inc. (ISDA) published the ISDA 2016 Variation Margin Protocol (VM Protocol). The VM Protocol will help market participants implement the new variation...more
Novo Banco and CDS – A Post-Mortem - The 2014 ISDA Credit Derivatives Definitions updated the previous set of credit derivatives definitions to, among other things, include a credit event for “Governmental Intervention.”...more
On July 13, 2015, ISDA published a classification letter that will enable counterparties to notify each other of their status for clearing and other regulatory requirements under Regulation (EU) No 648/2012 on OTC...more