Patchy response to Isda’s back office of the future

Some banks are quiet, while clearing houses seem split on uptake of Isda data standardisation project

In late 2017, the International Swaps and Derivatives Association produced a data standardisation model that could save dealers $3 billion a year on reconciling data on post-trade, back-office processes for swaps.

But interest in the project – the common domain model (CDM) – has been underwhelming in some quarters.

“On the Isda calls, I would expect a healthy number of nine to 10 banks engaged,” says a technology vendor, speaking of Isda’s CDM co-ordination calls. “But there are less than half