The International Swaps and Derivatives Association (ISDA) has published its updated OTC derivatives compliance calendar, highlighting key regulatory deadlines through 2025-2029. The calendar outlines implementation dates for initial margin requirements across multiple jurisdictions from September 2025, with thresholds ranging from $US 8bn to local currency equivalents. Other significant developments include the European Commission's extension of UK Central Counterparty (CCP) equivalence to June 2028, Basel III endgame implementation from July 2025, and new trade reporting requirements in Hong Kong, South Korea and Canada. The calendar also details upcoming changes to MiFID regulations and post-trade transparency rules in the UK and EU.

The International Swaps and Derivatives Association (ISDA) published an updated version of its global over-the-counter (OTC) derivatives compliance calendar on 30 April 2025. The calendar provides financial institutions and legal practitioners with upcoming regulatory deadlines and compliance dates for OTC derivatives across jurisdictions. The document aims to help market participants track and prepare for regulatory obligations in the derivatives space.

The International Swaps and Derivatives Association (ISDA) published a whitepaper on 15 May 2025 examining collateral efficiency and liquidity resilience in global derivatives markets. The report, produced by ISDA's Future Leaders in Derivatives program, analyses how recent market stress events exposed weaknesses in collateral frameworks. It identifies three primary challenges: cost reduction, liquidity improvement and operational efficiency, while examining issues driven by regulatory complexity and market fragmentation. The paper proposes practical strategies to address these challenges within current regulatory frameworks.

The International Swaps and Derivatives Association (ISDA) has published a report on the drivers of a growing use of non-cash assets as variation margin (VM) for non-cleared over-the-counter (OTC) derivatives and the barriers that remain to expanding the use of non-cash collateral. Following a series of interviews with buy- and sell-side firms, ISDA says they are motivated less by the operational convenience of cash than by a desire to keep cash invested, to avoid reliance on the repo market and to maintain a diverse pool of pledgeable assets—not just for OTC derivatives but for all collateral requirements, such as securities lending and repo activity.

The International Swaps and Derivatives Association (ISDA) has published analysis showing European interest rate derivatives (IRD) trading reached $US 248.0trn in 2024, up 24.9% from 2023. The report, based on data from 30 European approved publication arrangements and trading venues, shows euro-denominated trades comprised 55.7% of volume at $US 138.2trn. Trading venues handled 34.2% of transactions, while systematic internalizers executed 36.5%. The majority of trades (73.8%) had tenors of one year or less.

The International Swaps and Derivatives Association (ISDA) has reported data from the Bank for International Settlements (BIS) which shows that over-the-counter (OTC) derivatives notional outstanding rose by 4.9% year-on-year in the second half of 2024. The report highlights that gross market value and gross credit exposure both declined by 2.8%, while total mark-to-market exposure fell by 83.2% through close-out netting. Additionally, the required initial margin for cleared interest rate derivatives and credit default swaps decreased slightly to US$389.8bn from US$392.2bn, whereas the margin for non-cleared derivatives, combining initial and variation margin, increased by 6.4% to reach US$1.5trn.

The International Swaps and Derivatives Association (ISDA) has issued an analysis for the Bank for International Settlements' latest over-the-counter (OTC) derivatives statistics for the first half of 2024. The report indicates a 2.4% year-on-year improvement in global OTC derivatives notional outstanding, with growth in foreign exchange, equity and an increase in commodity derivatives notional outstanding.

The International Swaps and Derivatives Association (ISDA) has released a report which analyses trading activity in interest rate derivatives (IRD) as documented in Europe and sourced from transactions publicly disclosed by 30 European approved publication arrangements (APAs) and trading venues (TVs). Key statistics include: a 12.1% increase in European interest rate derivatives (IRD) traded notional to US$172.7 trn; euro-denominated trades rose by 3.4%, whilst sterling-denominated activity surged by 27.3%; and overnight index swaps saw a substantial 28.9% growth.

The International Swaps and Derivatives Association (ISDA) has reported that the notional value of interest rate derivatives trading increased by 48.6% to US$249.4trn in the first half of 2025, while the notional value of index credit derivatives surged by 91.9% to US$10.5trn. This growth comes in the wake of the Commodity Futures Trading Commission (CFTC) revising block and cap thresholds on 7 October 2024. Cleared transactions accounted for 86.6% of the interest rate derivatives notional, with 55% of these transactions executed on swap execution facilities (SEFs). These changes occurred amid ongoing interest rate volatility and evolving central bank policies.

The International Swaps and Derivatives Association (ISDA) submitted its response to the Bank of England's (BOE's) consultation on proposed fundamental rules for UK financial market infrastructures (FMIs), including central counterparties (CCPs). While expressing broad support for the proposed framework, ISDA advocated for enhanced transparency provisions across several fundamental rules, particularly in FR 1 - 3, as well as in FR 9 regarding operational resilience assessments. ISDA welcomed the introduction of FR 10, which addresses systemic risk management by CCPs, while proposing that results stemming from risk assessments should be shared with CCP participants to strengthen their risk management capabilities.

The International Swaps and Derivatives Association (ISDA) has submitted responses to two UK regulatory consultations on central counterparty frameworks. ISDA responded to the Bank of England consultation on ensuring CCP resilience and HM Treasury's draft CCP statutory instruments, both part of updating the UK's regulatory framework for CCPs. ISDA supported BoE proposals on the second tranche of skin in the game requirements and suggested widening the scope of eligible collateral at CCPs, while providing technical comments on HMT's draft statutory instruments.

The International Swaps and Derivatives Association (ISDA) has responded to the Bank of England (BoE)’s consultation on a proposed regulatory regime for sterling-denominated systemic stablecoins.  ISDA ‘s response emphasises that  regulatory frameworks should align with prudent risk management practices and the Principles for Financial Market Infrastructures (PFMI). Key areas addressed include capital requirements, digital asset risk management, and the establishment of consistent standards for haircuts, custody, and collateral eligibility in derivatives markets.  ISDA also emphasises the need for cross-border regulatory coordination to avoid market fragmentation and reiterates that stablecoins should not compromise existing risk management standards or weaken established PFMIs.