ISDA News

Global FX Derivatives Market Overview: Size, Structure and Uses

The International Swaps and Derivatives Association (ISDA) has published an overview of the global FX derivatives market, reporting $6.6 trillion in average daily turnover as of April 2025. The report highlights growth in forwards and options and details the market's structure, uses, and geographic concentration.

FAQ: New Selection Process for Standard Reference Obligations (SROs)

The International Swaps and Derivatives Association (ISDA) has published a new FAQ document detailing a revised selection process for Standard Reference Obligations (SROs). This FAQ provides guidance on the updated procedures for selecting SROs within the derivatives market.

ISDA and EMTA Publish 2026 FX Definitions for Derivatives

ISDA and EMTA have published the 2026 FX Definitions, consolidating previous documentation and updating market practices for FX derivatives. The new definitions aim to enhance market safety and efficiency, with an implementation target of November 2027.

ISDA Recommendations to Simplify EU Regulation

The International Swaps and Derivatives Association (ISDA) has submitted a paper to the European Commission with eight recommendations to simplify EU derivatives regulation. The proposals aim to reduce operational complexity and compliance costs while maintaining high regulatory standards and enhancing the EU's attractiveness for derivatives activity.

UK BMR Reform Consultation Response

ISDA, GFXD, UK Finance, and LMA have jointly responded to HM Treasury's consultation on reforming the UK Benchmark Regulation (BMR). The response supports replacing the current UK BMR with a new regime that would regulate only benchmarks posing systemic risks.

ISDA: Safe, Efficient Markets for SFTs

The International Swaps and Derivatives Association (ISDA) has published a paper outlining structural and regulatory drivers impacting Securities Financing Transactions (SFTs). The paper identifies advocacy priorities to support resilient SFT markets and addresses differences in frameworks for SFTs and derivatives.