ICE backs away from ISDA DC position
The International Swaps and Derivatives Association (ISDA) on Friday revealed that Intercontinental Exchange’s (ICE) benchmarking arm was “unable to reach agreement” with its credit determinations committee members over becoming their new secretary.
The committees, formed of 10 sell-side and five buy-side voting members, make decisions on whether or not credit events that trigger credit default swaps have occurred. Separate committees preside over different regions, including EMEA, Asia Ex-Japan and the Americas.
The determinations committee secretary, which has so far been
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