There "could be a role" at one of the market's new utilities
Challenges and opportunities
Bob Pickel reappointed Isda chief executive, replacing Connie Voldstad, who will stay on as special adviser to the board
Speaking in a video interview, Isda executive vice-chairman Robert Pickel said regulators are aware that inconsistencies could emerge between legislative requirements and Fed letter commitments
Heated debate over financial regulatory reform going through the US Congress was at the forefront of the International Swaps and Derivatives Association’s annual general meeting in San Francisco last month.
A panel of industry experts on June 9 urged the US House Financial Services Subcommittee to steer clear of broad, one-size-fits-all regulation for over-the-counter derivatives.
Over-the-counter derivatives traders have increased their use of collateral by 86% in the past year, according to a survey of banks and institutional investors released today by the International Swaps and Derivatives Association.
The International Swaps and Derivatives Association (Isda) says post-trade processing has continued to improve over the past year, with lower numbers of confirmations outstanding and higher levels of automation.
In its final move to incorporate the settlement of credit default swaps (CDS) with cash auctions into standard contracts, the International Swaps and Derivatives Association published its auction settlement supplement today.
The International Swaps and Derivatives Association will publish its auction settlement supplement and open the Protocol on March 12.
The auction process for cash-settling credit derivatives trades has been tested recently but is working well, said Bob Pickel, chief executive of the International Swaps and Derivatives Association, at a symposium held by the organisation in New York...
A final value of 8.625% was set on the bonds of Lehman Brothers today, in an auction intended to cash-settle credit default swap (CDS) trades linked to the toppled dealer.
Christopher Cox, Chairman of the US Securities and Exchange Commission (SEC), has called for greater regulation of the credit default swaps (CDS) market.
The credit derivatives market grew by 81% in 2007 to reach $62.2 trillion in outstanding notional, according to figures from the International Swaps and Derivatives Association.
The derivatives industry faces a period of heightened scrutiny by regulators, mirroring the supervisory review in the wake of a series of mis-selling scandals in the 1990s, warn bankers.
Despite the efforts of dealers and intermediaries, backlogs in credit derivatives trade processing rose again in 2007, according to an Isda survey released yesterday.