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17 February 2011

ISDA’s comment letter on general regulations and DCO


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ISDA hat seine Stellungnahme als Reaktion auf den Regulierungsvorschlag der CFTC zu Clearingstellen von Derivaten abgegeben, die sich aus der Umsetzung der Section 725 (c) des Dodd-Frank Wall Street Reform and Consumer Protection Act ergeben.


ISDA believes that terms used in the cleared swap market should be clearly differentiated from terms used in the uncleared market when the definitions used are different.

ISDA is concerned that the definitions of “Initial Margin” and “Variation Margin” in the proposed rules are more appropriate to the futures markets and cleared derivatives, and less readily applicable in the uncleared OTC derivatives context. ISDA also believes that if these terms are to be used in this and other Commission rules that reference cleared transactions (whether futures or swaps), their use will create confusion with the equivalent concepts used in the uncleared OTC derivatives markets.

Full comment letter 



© ISDA - International Swaps and Derivatives Association


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