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Glossary

Default

Failure to fulfill the legal obligations or conditions of a loan, such as not making the required interest or principal payments.

Default News

Derivatives
ISDA publishes digital framework on close-out of derivatives contracts

The ISDA Close-out Framework will serve as a resource to help firms and service providers prepare for any potential future stress events

Industry
ICE to launch clearing service for US Treasury market

The global data and technology provider will provide a clearing service for all US Treasury securities and repurchasing agreements

Industry
Euroclear Bank and Eurex Clearing further partnership

The announcement builds on the existing partnership between the organisations, with the central counterparty already using Euroclear Bank as an eligible securities settlement location

Regulation
Basel III Endgame and G-SIB Surcharge may reduce clearing access for SFT and derivatives markets

ISDA’s head of capital Panayiotis Dionysopoulos and head of clearing services Ulrich Karl speak to Bob Currie about the implications of the US Basel III Endgame and G-SIB Surcharge proposals

Industry
GFF: Financial institutions need to be prepared for potential volatility in 2024

The panellists emphasised the need for risk mitigation strategies due to geopolitical and economic uncertainties

People moves
OCC appoints Cutuli as chief financial risk officer

Massimo Cutuli will succeed current CFRO Dale Michaels, who is set to retire in March

Regulation
FCA amends notification threshold in short selling regulation

The legislation will increase the notification threshold for the reporting of net short positions in shares to the FCA

Derivatives
ISDA selects Linklaters to conduct derivatives committees assessment

The review, which will analyse the structure and governance of the DCs, will see Linklaters recommend changes to maintain the integrity of the committees in changing economic and market conditions