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3. The Expanded IIGC: RICs
• We are evolving the IIGC’s structure to include four
Regulatory Implementation Committees (RICs):
These committees address specific issues within their domains, as
outlined on the following slides. Other committees will be added as
needs are identified.
• The existing ISDA Product Steering Committees will continue and
are critical to the functioning of their underlying markets.
Risk &
Margin
Business
Conduct
Organized
Trade
Execution
Data &
Reporting
3
4. Regulatory Implementation Committees (RICs)*
ISDA Support
Risk & Margin
Conduct of
Business
Organized Trade
Execution
Data & Reporting Legal
Infrastructure
Management
Technology
Infrastructure
Risk
Management
Cleared and
uncleared margin
Clearinghouse capital
and resolution
Bilateral trade capital
Registration
Recordkeeping
Standards for dealing
with counterparties
Conflicts of interest
Disclosure
Trade execution
requirements
Block trading
Trading mandate
Trade reporting
Data standards
LEI, UPI, USI
Real-time reporting
ISDA Board
(Buy-side / Sell-side)
IIGC
Sell-side chair;
Buy-side chair
CFTC SEC ESMA FRB FSA BofE JFSA Others
Supervisors / Regulators
Product
Steering
Committees
Credit
Interest Rates
Commodities
Equities
Collateral
Operations
The
Expanded
IIGC
ISDA Public Policy team
4
5. 5
Regulatory Implementation Committees (RICs)
Risk & Margin
Conduct of
Business
Organized Trade
Execution
Data & Reporting
CCP Risk and Capital
Working Group
Clearing Risk
Working Group
Indirect Clearing
Working Group
APAC CCP Risk
Working Group
Mandatory Clearing
Working Group
Portfolio Compression
Working Group
Confirmations
Working Group
Disclosure
Working Group
Platform Disclosure
Working Group
US Compliance
Working Group
EU Compliance
Working Group
Reference Data
Working Group
Workflow
Working Group
Asia ex Japan Compliance
Working Group
Japan Compliance
Working Group
ISDA Industry Governance
6. 6
Equity Steering Committee (ESC)
Electronic
Working Group
Equity
Architecture
Working Group
ISDA Industry Governance
Product Steering Committees
Equity Implementation Group (EIG)
7. 7
Rates Steering Committee (RSC)
Regulatory
Target Delivery
Working Group
FX Operations
Working Group
ISDA Industry Governance
Product Steering Committees
Rates
Operations
Working Group
Rates Mandatory
Clearing
Working Group
Rates Implementation Group (RIG)
8. 8
Credit Steering Committee (CSC)
ISDA Industry Governance
Product Steering Committees
Credit
Operations
Working Group
Credit Mandatory
Clearing
Working Group
Credit Implementation Group (CIG)
9. 9
Commodities Steering Committee (COSC)
Commodities
Operations
Working Group
Portfolio
Compression
Working Group
ISDA Industry Governance
Product Steering Committees
Commodities
Trade Repository
Committee
11. 11
Operations Steering Committee (OSC)
Mandatory
Clearing
Working Group
Clearing
Backloading, Netting
& Portability
Working Group
ISDA Industry Governance
Product Steering Committees
Clearing
Allocations
Working Group
Clearing Holiday
Processing
Working Group
Clearing Operations & Processing
OTC
Operations
Clearing
Operations
12. 12
ISDA Industry Governance
Product Steering Committees
Rates
Working
Group
Equity
Working
Group
Collateral
Management
Working
Group
Credit
Working
Group
Asia-Pacific
Implementation
Group
Asia-Pacific Steering Committee (ASC)
Japan
Implementation
Group
Japan
Operations
Working
Group