Isda moves to stabilise derivatives markets

The trade body also said the posting of one-year dollar swaps rates has resumed. "Isda believes it is important to continue supporting orderly markets," said Jonathan Moulds, chair of Isda’s trading practice committee and head of global rates at Bank of America.

Isda advised that "unless parties otherwise agree", Tuesday to Friday of last week should not be considered days on which valuation or expiry of equity options should have occurred. The statement is relevant only "where trading on a relevant exchange in the United States ceased or did not open as a result of the events occurring in New York City".

The latest statements follow advice given on Friday for the closing of energy-based derivatives contracts. Isda advised that closing prices for the first day of trading following the market disruption should be used.

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