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ISDA rallies support for derivatives data reporting rethink 

June 16, 2015

Elliott Holley, Banking Technology

Eleven financial associations have published their support for a new set of derivatives reporting standards developed by ISDA, which is calling for greater cross-border harmonisation of data standards – even if that means some national laws will have to be amended.

ISDA – essentially the representative body for participants in the derivatives markets with 800 members including banks, exchanges, clearing houses, investment managers, commodities and energy companies, insurers and government entities –  has published a set of data reporting principles, which it says will improve the consistency of the data being reported and thus help regulatory transparency.

Part of the drive behind the ISDA principles is the widespread view that although rules such as Dodd-Frank and EMIR have increased the amount of data being reported on OTC derivatives transactions, there are serious limitations in the current system which may make it difficult to make sense of the data collected or even benefit from it at all.

Read more: BankingTechnology

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