OTC MARKET NEWS Powered By Quantifi

Support builds for ISDA reporting principles 

June 16, 2015

Helen Bartholomew, IFR Asia

A group of 11 industry associations have lent their support to a set of principles developed by ISDA for improving the consistency of regulatory reporting standards in the US$630trn over-the-counter swaps market.

The principles, published by ISDA in February, call for the adoption of consistent reporting standards across borders.

The current fragmented approach has delivered incomplete and inconsistent data that means regulators still lack a true picture of risk across jurisdictions.

Mandatory reporting of OTC derivatives trades was a key requirement of the G20 agreement signed by global leaders in Pittsburgh as part of efforts to eliminate systemic risk.

But almost six years on, industry participants have become frustrated with the lack of global harmony.

While poor data quality reduces the value of the information for regulators and limits their ability to fulfill their responsibilities, significant differences in requirements have also increased the cost and complexity for firms that are reporting in multiple jurisdictions.

Read more: IFRAsia

Comments are closed on this post.


Submit your email to receive our newsletter