ISDA publishes new dispute resolution procedures for collateral calls in derivatives markets - Complinet, Inc., by Lauren Teigland-Hunt, Ryan Patino and Joshua Riezman
- Procedures currently in ‘Experimental Pilot Program’ stage
- Market-wide implementation to occur mid-2010
In order to satisfy recent industry commitments to regulators, the ISDA Collateral Committee recently published the 2009 Collateral Dispute Resolution Procedure (the “DR Procedures”), a comprehensive set of procedures that are intended to improve the way in which collateral call disputes in OTC derivatives markets are resolved. The DR Procedures were developed by the ISDA Collateral Committee in consultation with other ISDA committees and trade associations representing buy side market participants and were submitted to the Federal Reserve Bank of New York and other market regulators on September 30, 2009. The DR Procedures are currently being tested by several dealer and buy side firms as part of an experimental pilot program, with broader market-wide implementation expected to take place in 2010.
See the attached article for more details.
Published by Complinet, Inc., www.complinet.com, the leading provider of compliance intelligence for the financial services industry
