ISDA News

The buy-side members of SIFMA, the International Swaps and Derivatives Association (ISDA) and with participation of the Managed Funds Association (MFA) today released summary of results from a member survey where over 84 percent of respondents indicated that the five request for quotes (RFQ) rule proposed by the Commodity Futures Trading Commission (CFTC) would result in increased transaction costs.

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved that a Restructuring Credit Event occurred, under Section 4.7 (a)(ii) of the ISDA 2003 Credit Derivatives Definitions, in respect of SNS Bank NV.

The EMEA Determinations Committee agreed to hold a separate meeting on February 14, 2013 to discuss whether one or more Auctions should potentially be held.

ISDA will publish further information on its website, www.isda.org/credit, in due course.

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Irish Bank Resolution Corporation Limited.

The EMEA Determinations Committee agreed to hold a separate meeting on February 14, 2013 to discuss whether one or more Auctions should be held.

ISDA will publish further information on its website, www.isda.org/credit, in due course.

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that LCDS dealers voted to hold an auction for European loan-only CDS transactions referencing certain facilities entered into pursuant to a Senior Credit Agreement entered into by the credit known as Mediannuaire on 10th October 2006 (and as amended from time to time thereafter).

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Edison Mission Energy.

The Committee determined that an auction will be held in respect of outstanding CDS transactions. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course.

The International Swaps and Derivatives Association, Inc.(ISDA) today announced the publication of the Recommendation for FpML version 5.4.

FpML version 5.4 focuses on further enhancing a robust framework for global regulatory reporting. In addition, the coverage for several asset classes has been expanded to fully represent Dodd-Frank reporting requirements.

The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Asia Ex-Japan Credit Derivatives Determinations Committee resolved that a Restructuring Credit Event occurred in respect of GTL Infrastructure Limited.

ISDA will publish further information on its website, www.isda.org/credit, in due course.

 

Association Issues Margin Analysis and Urges Regulators to Resolve Extraterritoriality Issues

The International Swaps and Derivatives Association, Inc. (ISDA), today published an analysis of initial margin (IM) requirements for non-centrally cleared OTC derivatives under current regulatory proposals. 

The International Swaps and Derivatives Association, Inc. (ISDA), today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Overseas Shipholding Group, Inc.

The International Swaps and Derivatives Association, Inc. (ISDA) today announced the launch of its Online Library’s new functionality, OL Plus.

Along with the standardized general and product specific risk disclosures that ISDA has been developing, ISDA’s OL Plus assists swap dealers’ compliance with certain US Commodity Futures Trading Commission’s (CFTC) External Business Conduct Rules disclosure and fair dealing in communications requirements.