The Swap

Tokenization has the potential to bring much-needed efficiency and flexibility to collateral management. Sandy Kaul from Franklin Templeton and the DTCC’s Joseph Spiro talk about the opportunities and the path to broader adoption. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

ISDA’s chair Amy Hong sets out priorities for the association in 2026 and the important role that technologies like tokenization and artificial intelligence will play in modernizing derivatives markets. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Global policymakers are focused on a wide-ranging set of issues, including NBFI and the rapid development of advanced technologies. IOSCO secretary general Rodrigo Buenaventura unpacks the regulatory agenda. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The pace of change in derivatives markets shows no sign of letting up, with rapid evolution across trading, regulation and technology. Industry veteran Don Wilson, founder of trading firm DRW, talks to The Swap about some of the biggest trends. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Markets have been volatile so far this year, but what has this meant for market liquidity? The Swap talks to Chris Edmonds from Intercontinental Exchange on trading activity and the market, economic and geopolitical outlook. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

A new report from ISDA shows that companies all over the world use derivatives to alleviate uncertainty, transfer risk and enhance profitability. ISDA discusses the findings with BCG’s Roy Choudhury. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The start of ISDA’s 40th anniversary coincided with the appointment of a new ISDA chair, Jeroen Krens. In this episode, we hear about his plans for the association and main strategic priorities. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

To mark ISDA’s 40th anniversary, The Swap meets two pioneers of the derivatives market, Tom Jasper and Jeffrey Golden, to discuss the emergence of derivatives and the importance of standards Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

In this review of the year, ISDA CEO Scott O’Malia and Chairman Eric Litvack look back at the derivatives market and regulatory issues dominating 2024, including Basel III, Treasury clearing and non-bank financial intermediation. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Voluntary carbon markets could play an important role in the shift to net zero but what’s needed to build liquidity and ensure transparency in this market? ISDA CEO Scott O’Malia talks to Rubicon Carbon’s Tom Montag. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

As regulators look to tackle perceived risks posed by non-bank financial intermediation, Bruce Tuckman from the Stern School of Business gives his views on what’s driving these concerns and how they might be resolved. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

With just weeks to go until the US election, ISDA talks to Rhod Shaw from government affairs consulting firm Alpine Group about the key policy issues and the implications for the financial sector. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Clearing of derivatives has been a key regulatory objective since the 2008 financial crisis, but proposed changes to US capital rules would make clearing much more expensive. Scott O’Malia discusses the implications with LSEG’s Daniel Maguire. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Geopolitical risk has become a focus for financial institutions, with the potential to cause extreme volatility in financial markets. How are banks thinking about this? Scott O’Malia talks to Citi’s Brent McIntosh. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

A new paper from ISDA Future Leaders in Derivatives explores the potential for generative artificial intelligence in the derivatives market. Scott O’Malia talks to IFLD participants Tom Reynolds and Katherine Arden about the paper’s findings and recommendations. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Regulators have looked for ways to make the US Treasury market more efficient, competitive and resilient. What’s been achieved and what else is needed? ISDA talks to Michelle Neal at the Federal Reserve Bank of New York. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Sustainable and green finance will play a critical part in the transition to net zero. SGX’s Michael Syn talks about how the exchange is approaching this issue. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Darrell Duffie, professor at the Stanford Graduate School of Business, has highlighted shrinking bank balance sheet capacity as a key reason for bouts of illiquidity in the US Treasury market. What’s the answer? Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

From the final farewell of LIBOR to release of the long-awaited US capital proposals, several key issues have dominated derivatives markets in 2023. ISDA’s Scott O’Malia and Eric Litvack look back on the year. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Key pieces of EU financial market regulation have been reviewed, resulting in several key changes. What will this mean for derivatives market participants? ISDA speaks to ESMA executive director Natasha Cazenave. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Regulators around the world have been revising their derivatives reporting rules to incorporate global data standards. JP Morgan’s Eleanor Kelly and DTCC’s Syed Ali discuss the importance of the rules and the benefits of taking a digital approach to implementation. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The US Securities and Exchange Commission has proposed increased clearing of certain US Treasury securities, but what impact would that have on market structure? Frank La Salla, president and chief executive of DTCC, gives his views. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The development of local derivatives markets can help boost economic growth and financial market liquidity in emerging market and developing economies, but how can jurisdictions ensure these markets are efficient and resilient? The EBRD’s Axel van Nederveen and Frontclear’s Romina Lopez Martinez give their views. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The threat of cyber attacks and vulnerabilities in the crypto market are among the issues being discussed by the Commodity Futures Trading Commission’s Technology Advisory Committee. The committee’s sponsor, CFTC commissioner Christy Goldsmith Romero, discusses its priorities and objectives. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

A recent series of liquidity crunches has prompted a global regulatory effort to identify and remediate potential vulnerabilities in financial markets. How is that work progressing? ISDA talks to IOSCO’s Martin Moloney Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The invasion of Ukraine and subsequent rise in energy costs have brought the issue of energy security to the fore. How are policymakers responding, and what impact will this have on the transition to a green economy? ISDA talks to BP’s Niamh Staunton Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Regulators would like to see increased central clearing of US Treasury securities to further strengthen the resiliency of the financial system. What are the implications of this potential change? ISDA talks to Brian Ruane at Bank of New York Mellon. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The collapse of FTX and the knock-on effects on the crypto market continue to make headlines, but what other stories are likely to feature prominently in 2023? Bloomberg’s Tracy Alloway and the FT’s Philip Stafford give their views. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

From the war in Ukraine and surging energy prices to the sell-off in UK gilts and the impact on liability-driven investment funds, the past year has seen a succession of unexpected, market-moving events. ISDA’s Scott O’Malia and Eric Litvack look back at an astonishing year Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The sixth and final phase of margin requirements for non-cleared derivatives came into effect on September 1. How did the market react – and what’s next? Scott O’Malia talks to Wayne Forsythe at State Street and Liz Lindsay at Bank of Montreal. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Energy prices have reached stratospheric levels, triggering predictions of a challenging winter in the northern hemisphere. What’s the outlook for global energy markets, and how will the current landscape impact the switch to renewables? Scott O’Malia talks to Kevin Book at ClearView Energy Partners. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The voluntary carbon market is seen as having a key role in the transition to a green economy, but transparency and integrity are critical to its success. Annette Nazareth, chair of the Integrity Council for the Voluntary Carbon Market, talks to Scott O’Malia. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The crypto market has experienced a period of significant volatility, with the value of major cryptocurrencies falling sharply in recent weeks. What impact will this have on the crypto derivatives market? Nicola White of B2C2 and Purvi Maniar of FalconX share their perspectives. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Distributed ledger technology could potentially revolutionize financial markets by overhauling legacy systems and slashing infrastructure costs. Where are the greatest opportunities in derivatives markets, and what will it take to effect change? Scott O’Malia talks to Digital Asset CEO Yuval Rooz. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The US Commodity Futures Trading Commission has a full agenda, with climate change, crypto assets, benchmark reform and swap reporting requirements just a few of the issues on the to-do list. CFTC chair Rostin Behnam talks with ISDA about the commission’s priorities. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Central banks face a wide range of issues in 2022, from the rapid development of sustainable finance to the rise of crypto assets and the potential for central bank digital currencies. Sylvie Goulard, second deputy governor at the Banque de France, joins ISDA’s Scott O’Malia to discuss Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

China’s derivatives market is fairly small relative to the size of its economy, but forthcoming legal and market developments could help to further grow the country’s capital markets. Chong Liew from Linklaters and LSEG’s Jenny Cosco give their perspective. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

With banks and institutional investors showing increased appetite for crypto assets, what role will derivatives play in this exciting asset class, and what steps need to be taken to build a robust and liquid derivatives market? Mark Wetjen, head of policy and regulatory strategy at FTX US, gives his views. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Promoting and maintaining diversity, equity and inclusion in the workplace is fast becoming a risk and compliance priority for financial institutions. Tuvia Borok, global head of policy and documentation at Goldman Sachs, talks to ISDA CEO Scott O’Malia Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

It’s the job of financial stability authorities to ensure the financial system is resilient and to identify any potential vulnerabilities. The Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, discusses the current areas of focus Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Crypto assets are growing at a rapid pace, with increasing interest from institutional investors, which is driving renewed focus on developing robust standards and legal foundations. Former CFTC chairman J. Christopher Giancarlo talks to ISDA CEO Scott O’Malia Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The European Commission has a busy end to 2021 in store, with publication of new capital measures due in October, continuing work to enable the transition to a climate-neutral economy by 2050 and an ongoing initiative to review its flagship markets legislation. The EC’s Sean Berrigan discusses the EU’s regulatory priorities Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Regulatory reforms over the past decade helped banks weather the coronavirus crisis, but what’s in store in the future? What will it take to be a leading investment bank, and to what extent will technology be the differentiating factor? JP Morgan analyst Kian Abouhossein gives his views. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

Higher capital and liquidity requirements are widely thought to have helped banks weather the COVID-19 crisis, but do parts of the Basel III framework need to be reconsidered in light of the pandemic? Deutsche Bank group treasurer Dixit Joshi talks to ISDA CEO Scott O’Malia Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.

The requirement to post initial margin for non-cleared derivatives was one of the main post-financial crisis reforms. As the industry prepares for the final two phases of implementation, Greg O’Donahue of the Ontario Teachers’ Pension Plan and Jérôme Blais of BNP Paribas Securities Services reflect on the impact and challenges of the requirements. Produced by Hangar Studios Hosted on Acast. See acast.com/privacy for more information.