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©2013 International Swaps and Derivatives Association, Inc.
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.
The Expanded IIGC and RICs
Updated April 9, 2013
ISDA Support
Public Policy
Legal
Infrastructure
Management
Technology
Infrastructure
Risk
Management
ISDA Board
(Buy-side / Sell-side)
IIGC
Sell-side chair
Buy-side chair
Previous
IIGC
Structure
CFTC SEC ESMA FRB FSA BofE JFSA Others
Supervisors / Regulators
Product Steering Committees
Credit
Interest
Rates
Commodities Equities Collateral Operations
2
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
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
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
Equity Steering Committee (ESC)
Electronic
Working Group
Equity
Architecture
Working Group
ISDA Industry Governance
Product Steering Committees
Equity Implementation Group (EIG)
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
Credit Steering Committee (CSC)
ISDA Industry Governance
Product Steering Committees
Credit
Operations
Working Group
Credit Mandatory
Clearing
Working Group
Credit Implementation Group (CIG)
9
Commodities Steering Committee (COSC)
Commodities
Operations
Working Group
Portfolio
Compression
Working Group
ISDA Industry Governance
Product Steering Committees
Commodities
Trade Repository
Committee
10
Portfolio
Reconciliation
Working
Group
Best
Practice
Working
Group
Standard
CSA
Working
Group
Collateral &
Exposure
Reporting
Working
Group
Custodian
Working
Group
Collateral
Electronic
Messaging
Working
Group
Dispute
Resolution
Working
Group
ISDA Industry Governance
Product Steering Committees
Collateral Steering Committee (COLSC)
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
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

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HRB 68648 9.4.13 iig candprodgroups

  • 1. ©2013 International Swaps and Derivatives Association, Inc. ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc. The Expanded IIGC and RICs Updated April 9, 2013
  • 2. ISDA Support Public Policy Legal Infrastructure Management Technology Infrastructure Risk Management ISDA Board (Buy-side / Sell-side) IIGC Sell-side chair Buy-side chair Previous IIGC Structure CFTC SEC ESMA FRB FSA BofE JFSA Others Supervisors / Regulators Product Steering Committees Credit Interest Rates Commodities Equities Collateral Operations 2
  • 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