FIA and ISDA on 4 April 2021 submitted a response to the European Commission’s ‘Roadmap’ consultation on the review of CSDR. In the response, the associations highlight the need to clarify the scope of the settlement discipline regime with respect to derivatives transactions, in particular in the context of margin transfers and physically settled derivatives, asking the European Commission to prioritize reforming the settlement discipline regime’s mandatory buy-in rules in the upcoming CSDR Review.
