International Swaps and Derivatives Association (Isda)
The Thomson test
A restructuring of debt by Paris-based media and electronics firm Thomson has provided an early test for the small bang protocol. The initial stages of the settlement process highlighted a number of outstanding issues, not least the treatment of index…
Net results
A master agreement for over-the-counter Islamic derivatives is in the final review stages and could be published in 2009. After years of debate, the difficult issue of close-out netting appears to be close to resolution. By Alastair Marsh
Conflict's end
The second phase of the International Swaps and Derivatives Association's collateral dispute resolution protocol prescribes a market polling mechanism for settling disputes involving illiquid and complex transactions. How will the market poll work and…
Buy-side battle
Central clearing has dominated the agenda of credit derivatives dealers this year. With regulators pushing for buy-side firms to have access to clearing platforms, dealers and clearing houses are finding there is a great deal of work still to be done…
Industry responds to EC derivatives proposals
Three industry bodies have offered overall support for the European Commission's proposals for derivatives markets, but opposed measures they claim could be detrimental to over-the-counter trading.
Thomson restructuring causes headache for CDS index tranches
Market participants are uncertain how to deal with index tranche products referencing the iTraxx credit default swap (CDS) indexes following the restructuring credit event at French media company Thomson, which was a member of the indexes.