International Swaps and Derivatives Association Inc.
|International Swaps and Derivatives Association, Inc.|
|Headquarters||NEW YORK OFFICE: 360 Madison Avenue - 16th Floor, New York, NY 10017|
The International Swaps and Derivatives Association (ISDA) represents participants in the privately negotiated derivatives industry and is the largest global financial trade association by member firms, numbering more than 820 from 58 countries on six continents.
Members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entijkharoufties and other end users that rely on over-the-counter derivatives for managing financial market risks inherent in their core economic activities. It's membership breakdown is 25 percent dealers, 35 percent service providers and 40 percent end-users. It's membership also includes 14 of the largest banks in the world, which account for about 82 percent of the global interest rate derivatives activity.
ISDA annually conducts a number of conferences, which include hands-on educational and training workshops (collateral, documentation, operations), seminars that examine and provide the up-to-date information on specific topics (risk management, new types and uses of derivatives), and more general sessions that review the latest developments across the industry. Some of these conferences, such as the annual general meeting and the member updates, are open only to ISDA members.
They also offer on-demand courses :
- Understanding the ISDA Master Agreements Conference
- Documenting and Confirming Credit Derivative Transactions Conference
- Documenting and Confirming Equity Derivative Transactions Conference
- Fundamentals of Derivatives Seminar
- Fundamentals of Credit Derivatives Seminar
- Fundamentals of Equity Derivatives Seminar
- Introduction to Operations Training Course
- FpML Training Course (Financial products Markup Language)
ISDA Margin Surveys annually examine the state of collateral use and management among derivatives dealers and end-users. The 2005 ISDA Collateral Guidelines update and considerably expand upon the original themes of the 1998 ISDA Guidelines for Collateral Practitioners and the recommendations in the ISDA 1999 Collateral Review.
- ISDA Margin Survey 2007
- ISDA Margin Survey 2006
- ISDA Margin Survey 2005
- 2005 ISDA Collateral Guidelines]
- Other Margin Surveys and Collateral reviews from prior years
Products and Services
Among ISDA's accomplishments are:
- Development of the ISDA Master Agreement
- Publication of documentation materials and instruments covering a variety of transaction types
- Production of legal opinions on the enforceability of netting and collateral arrangements (these available only to ISDA members)
- Securing recognition of the risk-reducing effects of netting in determining capital requirements
- Promoting sound risk-management practices
- Advancing the understanding and treatment of derivatives and risk management from public policy and regulatory capital perspectives.
On Sept. 13, 2011, ISDA and S&P Indices announced that they would co-brand S&P’s existing credit default swap indices as S&P/ISDA CDS Indices. The S&P/ISDA CDS Indices seek to reflect the credit default swap market for U.S. corporate credits and increase transparency for market participants.
The association's member institutions are classified into three categories according to the guidelines contained in the association's by-laws. These categories are primary (dealer firms), associate (service providers) and subscriber (end-users).
- Robert Pickel,Chief Executive Officer
- George Handjinicolaou, Deputy CEO
- Mary Cunningham, Chief Operating Officer
- Katherine Tew Darras, General Counsel, Americas, Head of Equity, FX and Interest Rate Legal
- Julian Day, Head of Market Infrastructure
- Huzefa Deesawala, Head of Finance
- Karel Engelen, Director and Global Head Technology Solutions
- David Geen, General Counsel
- Corrinne Greasley, Head of Administration
- Mary Johannes, Senior Director and Head of U.S. Public Policy
- Steven Kennedy, Global Head of Communications
- Richard Metcalfe, Deputy Regional Director, EMEA, Senior Regulatory Adviser, Head of Global Policy
- Dillon Miller, Director of Information Technology
- Tomoko Morita, Policy Director & Head of Tokyo Office
- Keith Noyes, Regional Director, Asia Pacific
- Kelly Sanderson, Global Head of Conferences
- Liz Zazzera, Head of Membership
2012 Board of Directors
- Stephen O’Connor, Managing Director, Morgan Stanley, and Chairman of the ISDA Board
- Michele Faissola, Managing Director and Global Head of Rates and Commodities, Global Markets Division, Deutsche Bank, and Vice Chairman of the ISDA Board
- Gay Huey Evans, Consultant, Non-Executive Chairman of Europe and Vice Chairman of the Board, ISDA
- Diane Genova, Managing Director and General Counsel, Investment Bank, J.P. Morgan Chase & Co, Treasurer of the ISDA Board
- Guillaume Amblard, Global Head of Fixed Income Trading, BNP Paribas
- Brian Archer, Managing Director, Global Head of Credit Trading, Citi
- R. Martin Chavez, Managing Director, Goldman Sachs
- Bill de Leon, Executive Vice President, Global Head of Portfolio Risk Management, PIMCO
- Thibaut de Roux, Global Head of Structured Derivatives, HSBC Bank Plc
- Nitin Gulabani, Global Head of Rates, Standard Chartered Bank
- George Handjinicolaou, Deputy Chief Executive Officer, ISDA
- Harry Harrison, Head of Rates Trading, Barclays Capital
- Alan Haywood, Head of Commercial Development; Integrated Supply & Trading, BP p.l.c.
- Peter Healey, COO, Fixed Income, Currencies and Commodities, UBS AG
- Jonathan Hunter, Managing Director and Global Co-Head, Fixed Income and Currencies, RBC Capital Markets
- Jeroen Krens, Head of FICC Market Structure, RBS Global Markets
- TJ Lim, Global Head of Markets, UniCredit
- Eric Litvack, Chief Operating Officer of Global Equity Flow, Societe Generale
- Ted MacDonald, Managing Director of DE Shaw & Co., and Treasurer of DE Shaw Group
- Yutaka Nakajima, Senior Managing Director, Head of Trading, Fixed Income Japan and Australia, Nomura Securities Co.
- Gerhard Seebacher, Managing Director, Head of Global Credit Products, Bank of America Merrill Lynch
- Yasuhiro Shibata, Joint Head of Fixed Income Group, Mizuho Securities
- Eraj Shirvani, Managing Director, Head of Fixed Income for EMEA Region, Credit Suisse
- Stuart Spodek, Managing Director, BlackRock
- Emmanuel Vercoustre, Global Head of Strategy Finance & Control, AXA Investment Managers
- Lili Wang, Executive Director & Senior Executive Vice President, ICBC Ltd.
- About ISDA. ISDA.
- "ISDA Conferences Playing Now on Your Schedule”. ISDA.
- Press Release. Yahoo! Finance.
- ISDA Names George Handjinicolaou Deputy CEO, Head Of Europe. NASDAQ.
- Stephen O'Connor New Chairman of ISDA. Business Wire.