The International Swaps and Derivatives Association, Inc. (ISDA) today jointly submitted a letter with industry associations and leading financial institutions to the Federal Reserve Bank of New York. The letter highlights a series of strategic steps that ISDA is making in connection with the ongoing commitments of market participants to further strengthen the operational infrastructure for OTC derivatives.

ISDA, together with the Operations Management Group (OMG), the Managed Funds Association (MFA) and the Asset Management Group of the Securities Industry and Financial Markets Association (SIFMA), submitted the letter to Timothy Geithner, president of the NY Fed, in an effort to improve derivative market processing and scalability as well as augmenting risk mitigation and transparency.

“Recent market events have impacted the derivatives industry by increasing operational processing demands and challenging the infrastructure to manage increased trade activity and risk management,” said Robert ...   more »