Isda chair on the swaps market’s power shift

A decade ago, dealers held 18 of 19 board seats – but crisis has forced trade body to change

Eric Litvack, International Swaps and Derivatives Association

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Read all our coverage from the Isda AGM here

One way to tell the story of the over-the-counter derivatives market – its recent past and near future – is to look at who calls the shots at the International Swaps and Derivatives Association.

A decade ago, 18 of the board members were from banks, with most of the directors being senior traders or salespeople of one stripe or another. The sole