Press releases

Press releases, latest news and views from EVIA

Article discusses the development of new RFRs over the last 12 months, such as Sonia and Sofr, as well as discussing the outlook for benchmark transition next year. Article includes comments from David Clark discussing the challenges of deriving a curve from RFR futures that the market could use and highlighting the importance of ISDA’s work to help contracts move to an alternative. Article includes comments from Alex McDonald noting the need for time and proportionality in this transition process.

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Article reports on the predictions of senior executives, politicians and sector experts for financial services in 2019. Article includes comments from David Clark highlighting the need for the industry to prepare for the systemic threat of climate-related events in the new year. Article also includes comments from Alex McDonald discussing the challenges of liquidity fragmentation and the need for a global rulebook based on common reporting standards.

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Article reports that the industry is seeking to create a Libor-alternative that is based on actual transaction data but that this approach is proving problematic as none of the current options can match Libor’s curve and term structure. Article includes comments from David Clark calling for industry collaboration to help develop RFRs so that they meet the needs of the market.

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Article reports that CLS has launched CLSNet, a payments netting service for FX trades designed to reduce costs and increase liquidity for market participants, and that it is now being used by Goldman Sachs and Morgan Stanley. Article includes comments from David Clark, who maintains that the launch of this netting services is timely as it will help to improve operational risk management during a period of uncertainty.

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