ISDA, IHS Markit Unveil New Variation Protocol Ahead of 2017 Regulation
- ISDA Amend helps streamline and automate the process for amending existing collateral documents.
The International Swaps and Derivatives Association, Inc. (ISDA) and IHS Markit (Nasdaq: INFO) have jointly launched the ISDA 2016 Variation Margin Protocol on ISDA Amend, a new directive that helps streamline collateralization ahead of an upcoming round of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term in 2017, according to an ISDA statement.
IHS Markit is a provider of comprehensive information, Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term, and solutions for the multiple industries and markets globally. The new launch of the protocol on ISDA Amend will help automate the process for amending existing collateral documents – this is important as it helps venues shore up the ability to forge new agreements in compliance with new variation margin requirements slated to go into effect on March 1, 2017.
The protocol itself currently encompasses margin rules for non-cleared derivatives issued by most major jurisdictions and economic blocs, such as the US, the European Union, Japan, and Canada.
Unified Platform Free of Charge
More specifically, the ISDA Amend platform helps allow counterparties to electronically share specified questionnaires via a centralized online portal – this is instrumental for the process as it removes a reliance on bilateral negotiations, thereby streamlining the overall flow. ISDA Amend also bills itself as a free service for buy-side firms and corporations.
On this platform, counterparties are able to make elections, including which specific regulatory regimes apply and which method will be utilized to foster the requisite changes to their respective documentation. ISDA Amend also allows for the automation of the aforementioned questionnaires between counterparties.
According to Katherine Darras, ISDA’s General Counsel, in a recent statement on the launch: “Starting on March 1, the new variation margin rules will apply to a wide universe of financial institutions from various jurisdictions, and these firms will be required to make important changes to their derivatives documentation.”
“The Variation Margin Protocol available on ISDA Amend addresses the multijurisdictional compliance challenges of the non-cleared margin rules. We have closely partnered with ISDA and its working groups to develop a rules-based, electronic solution that supports the major margin regulatory regimes and helps the broader industry meet margin requirements within a compressed time frame,” explained Darren Thomas, Managing Director and Head of Counterparty Manager at IHS Markit.
The International Swaps and Derivatives Association, Inc. (ISDA) and IHS Markit (Nasdaq: INFO) have jointly launched the ISDA 2016 Variation Margin Protocol on ISDA Amend, a new directive that helps streamline collateralization ahead of an upcoming round of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term in 2017, according to an ISDA statement.
IHS Markit is a provider of comprehensive information, Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term, and solutions for the multiple industries and markets globally. The new launch of the protocol on ISDA Amend will help automate the process for amending existing collateral documents – this is important as it helps venues shore up the ability to forge new agreements in compliance with new variation margin requirements slated to go into effect on March 1, 2017.
The protocol itself currently encompasses margin rules for non-cleared derivatives issued by most major jurisdictions and economic blocs, such as the US, the European Union, Japan, and Canada.
Unified Platform Free of Charge
More specifically, the ISDA Amend platform helps allow counterparties to electronically share specified questionnaires via a centralized online portal – this is instrumental for the process as it removes a reliance on bilateral negotiations, thereby streamlining the overall flow. ISDA Amend also bills itself as a free service for buy-side firms and corporations.
On this platform, counterparties are able to make elections, including which specific regulatory regimes apply and which method will be utilized to foster the requisite changes to their respective documentation. ISDA Amend also allows for the automation of the aforementioned questionnaires between counterparties.
According to Katherine Darras, ISDA’s General Counsel, in a recent statement on the launch: “Starting on March 1, the new variation margin rules will apply to a wide universe of financial institutions from various jurisdictions, and these firms will be required to make important changes to their derivatives documentation.”
“The Variation Margin Protocol available on ISDA Amend addresses the multijurisdictional compliance challenges of the non-cleared margin rules. We have closely partnered with ISDA and its working groups to develop a rules-based, electronic solution that supports the major margin regulatory regimes and helps the broader industry meet margin requirements within a compressed time frame,” explained Darren Thomas, Managing Director and Head of Counterparty Manager at IHS Markit.