ISDA Backs OTC Clearing Standard
In August, Sapient Global Markets released a standard connectivity format for futures commission merchants (FCMs) to transmit over-the-counter (OTC) derivatives clearing information to custodians. This week, the International Swaps and Derivatives Association (ISDA) announced its support for the Clearing Connectivity Standard (CCS), and plans to work with Sapient and other market participants on the standard going forward.
ISDA had discussions with Sapient and State Street, one of three
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