The Chicago Mercantile Exchange will publish two new benchmark reference rates: CME CF Bitcoin Reference Rate New York and CME CF Ether-Dollar Reference Rate New York.
ISDA CEO Scott O'Malia described ISDA's ongoing effort to develop common contractual standards to support the digital asset derivatives market.
In its 2021 Annual Report, the Financial Stability Oversight Council assessed the state of the financial system and provided recommendations concerning climate-related financial risk, digital asset risk, the orderly transition away from LIBOR, and cybersecurity.
ISDA identified key issues regarding the current derivatives contractual framework in the hopes of developing a global standard for the quickly growing digital asset market.
ISDA CEO Scott O'Malia emphasized the need to develop uniform legal standards for crypto derivatives contracts.