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ISDA published a recommendation for an amendment to the single-name credit default swap ("CDS") roll frequency. ISDA recommended making "single-name CDS transactions roll to a new 'on-the-run' contract on a semiannual, rather than quarterly, basis" and consequently, "further align single-name CDS contracts with CDS index trades." According to ISDA, scheduling the roll to occur biannually in March and September rather than quarterly will (i) "improve liquidity around the new semiannual roll dates"; (ii) "increase clearing of eligible single-name CDS transactions and encourage further buy-side

The CFTC Division of Market Oversight issued an updated guidebook and a separate set of appendices for Part 20 Reports. The updates include, among other changes, a number of technical corrections and improved FpML and FIXML reporting formats. The updated Part 20 Guidebook now includes reporting formats and record layout examples for submitting position reports and 102S filings, a data dictionary for mapping reportable data elements to a record layout, and multiple examples of the conversion of swaps into futures equivalent units as required under Part 20. Additionally, the appendices to the

IOSCO published a final report, titled "Risk Mitigation Standards for Non-Centrally Cleared OTC Derivatives," which outlines standards that are intended to reduce risk in the non-centrally cleared OTC derivatives markets. The risk mitigation standards in the report were developed in consultation with the Basel Committee on Banking Supervision and the Committee on Payments and Market Infrastructures. They stem from a proposed standards report that was published in September 2014. The final report focuses on a number of ways in which risk standards can be applied in key areas to reduce risks in

IOSCO announced that its information repository for central clearing requirements for OTC rate and credit derivatives is now available to the public. Previously, the repository was only available to IOSCO members; however, IOSCO explained, it has gathered enough information on central clearing requirements to make the repository public. Updated quarterly, the repository sets out central clearing requirements on a product-by-product level, as well as any exemptions from the requirements. IOSCO stated that the repository aims to provide regulators and market participants with consolidated

The CFTC Division of Market Oversight ("DMO") issued a time-limited no-action letter that provides additional time for parties to comply with certain reporting requirements of the ownership and control final rule ("OCR Final Rule") under CFTC Rules Part 17, Part 18 and Part 20. Specifically, DMO granted relief from the requirement to file trader identification and reporting forms electronically, and to provide certain additional information required by the OCR Final Rule. DMO stated that it issued the no-action relief to provide market participants additional time to build and test systems for