ISDA argued the need for clarity in rules that govern the ownership of customer digital assets in the event of an intermediary’s insolvency. In a White Paper, ISDA asserted that the same "traditional and fundamental" protections that have been established through clear legal terms and the segregation of assets can also be applied to digital assets.
ISDA CEO Scott O’Malia reported that ISDA continues to work with global policymakers to improve margining practices that can mitigate the impact of "extreme" volatility.
Commentary by Nihal Patel
The Alternative Reference Rates Committee updated its recommendations on permissible usage of Term SOFR.
The UK Financial Conduct Authority will require LIBOR’s administrators, the ICE Benchmark Administration ("IBA"), to publish one-, three- and six-month U.S. dollar LIBOR settings beyond June 30, 2023.
The CFTC voted to propose rule amendments to codify no-action relief regarding the treatment of separate accounts by futures commission merchants.