Global Trading in INR Derivatives and the Indian OTC Derivatives Market
Global trading in Indian‑rupee (INR) derivatives has surged over the past decade, positioning the currency as a key hedge instrument. The Bank for International Settlements’ April 2025 survey ranks INR 11th in overall FX derivatives and 17th in interest‑rate derivatives. A new ISDA research note details market size, growth trends, and the geographic and product composition of OTC INR derivatives reported by Indian sales desks. The report underscores expanding cross‑border activity and deeper market sophistication.
ISDA, CMCE, ETE, FIA Respond to FCA on Commodity Derivatives Clearing Threshold
On April 9, ISDA, the Commodity Markets Council Europe, Energy Traders Europe and FIA responded to the FCA’s CP26/8 consultation on raising the UK commodity‑derivatives clearing threshold. They endorse an increase from the current €3 bn (≈$3.2 bn) but argue the FCA’s proposed...
Natixis CIB Adopts ISDA’s Digital Regulatory Reporting Solution
Natixis CIB has officially adopted ISDA’s Digital Regulatory Reporting (DRR) solution, leveraging the open‑source Common Domain Model (CDM) to automate regulatory filings. The platform translates a golden‑source interpretation of reporting rules into machine‑executable code, promising higher data accuracy and faster...
ISDA, AFME, ICMA and EBF Publish Paper on Proposals Relating to MIFIR PTT in the EC’s Market Integration and Supervision...
On April 7, ISDA, AFME, ICMA and the European Banking Federation released a joint paper commenting on the European Commission’s Market Integration and Supervision Package, specifically the post‑trade transparency (PTT) provisions of MiFIR. The paper backs the EC’s proposal to remove...
ISDA In Review – March 2026
In March 2026 ISDA released a suite of publications addressing key regulatory topics. A paper on April 2 argued that single‑sided reporting does not erode data integrity for supervisors, easing regulator concerns. The same day, ISDA, AFME and ICMA updated a...
ISDA Responds to EC Call for Evidence on Tax Omnibus
On March 30, ISDA, the International Securities Lending Association and the Association for Financial Markets in Europe submitted a response to the European Commission’s call for evidence on the tax omnibus. They contend that divergent interpretations of “beneficial ownership” across...
Managing Liquidity Risk: Opportunities and Challenges for Australian Superannuation Funds
Australian superannuation funds now manage A$4.5 trillion (about $3 trillion) in assets, roughly 160 % of GDP. Growing offshore allocations and increased derivative use have heightened liquidity risk, especially amid volatile markets and geopolitical shocks. Funds are adopting tools such as repo facilities,...
Next Steps on a Much Improved Basel III Endgame
The revised Basel III endgame proposal released this month marks a major step toward finalizing U.S. capital reforms. It introduces a suite of improvements, including the removal of the output floor for internal market‑risk models, enhanced cross‑product netting under SA‑CCR,...
ISDA Paper on EC’s Market Integration and Supervision Package Proposal
On March 20, ISDA delivered a position paper to EU lawmakers outlining reforms to the European Commission’s Market Integration and Supervision Package (MISP). The paper calls for synchronized Level 1 and Level 2 implementation dates, stronger no‑action relief, a secondary competitiveness mandate...
ISDA Selects Gentek AI to Develop DRR Traceability Tool
ISDA has appointed Gentek AI to build a traceability tool for its Digital Regulatory Reporting (DRR) platform, leveraging artificial intelligence to map coding decisions back to regulatory text. The solution will extract insights from ISDA working‑group minutes, creating a full...
ISDA Guidance: SOFR Publication on Good Friday 2026
ISDA issued guidance for OTC derivative parties regarding the anticipated non‑publication of the Secured Overnight Financing Rate (SOFR) on Good Friday, April 3 2026. The guidance outlines fallback mechanisms, amendment procedures, and confirms the holiday‑driven gap in the benchmark. It advises market...
IQ Interview with David Bailey
The Bank of England’s Prudential Regulation Authority has finalized its Basel 3.1 framework, slated to take effect at the start of 2027. In an IQ interview, executive director David Bailey highlighted the need for global regulatory consistency while acknowledging the challenges...
LSEG’s TradeAgent Integrates ISDA’s Digital Regulatory Reporting Solution
LSEG has integrated ISDA’s Digital Regulatory Reporting (DRR) solution into its TradeAgent post‑trade platform. DRR converts global derivatives reporting rules into machine‑readable code, covering eight rule sets. Both DRR and TradeAgent are built on the open‑source Common Domain Model (CDM),...
Global FX Derivatives Market Overview: Size, Structure and Uses
Global FX derivatives daily turnover hit $6.6 trillion in April 2025, about double the 2013 level. While FX swaps still dominate, outright forwards and options are growing fastest, reshaping product composition. Trading remains concentrated in London, though Asia‑Pacific’s share is rising and...
Safe, Efficient Markets for SFTs
Securities financing transactions (SFTs) such as repos, securities lending, and margin lending are essential for daily market liquidity, collateral flow, and the transmission of monetary policy, underpinning benchmarks like SOFR. Historical stress events—from the 1998 LTCM collapse to the 2022...