ISDA Expands Board of Directors and Updates Mission Statement

The ISDA Board of Directors voted to increase its size from 26 to 30 members in order to "broaden" the "perspective and scope of the Board by appointing members from diverse sectors of the market." The Board of Directors also voted to revise the ISDA mission and strategy statement in order to ensure that its strategic priorities would reflect changing market dynamics and the primary concerns of members.

Specifically, the changes to the mission and strategy statement are intended to (i) recognize explicitly the importance of a coherent and appropriate margin and capital regime, (ii) promote market practices related to trading, clearing, reporting and trade processing, and (iii) foster safe and efficient derivatives markets in order to facilitate effective risk management for all users of derivatives.

The additional board members will be elected during the first quarter of 2016.