Interest Rate, Currency Definitions To Get Spruced Up

The 2000 International Swaps and Derivatives Association definitions for interest rate and currency derivatives will be updated next year.

  • 23 Dec 2004
Email a colleague
Request a PDF

The 2000 International Swaps and Derivatives Association definitions for interest rate and currency derivatives will be updated next year. Don Thompson, assistant general counsel at JPMorgan in New York and co-chair of ISDA's North America documentation committee, explained that since the definitions were written many new floating-rate indices have been put out. "There have been lots of quirky floating rates, especially in the European markets," he said, citing overnight interest rate swap rates as an example.

While ISDA could publish amendments, enough new material has been generated to warrant the production of a new definitions booklet, Thompson said. "It's just to ease the operational flow for confirmations."

The revision will probably take a full year, according to Kimberly Summe, general counsel in New York. She said the trade association has started the process by distributing a survey to assess the range of topics which should be considered. It will receive feedback in January.

ISDA has been updating its annex to the 2000 definitions electronically over the past two years and the 20 amendments made so far will be folded into the new annex.

  • 23 Dec 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 358,291.38 1348 9.06%
2 JPMorgan 320,704.66 1461 8.11%
3 Bank of America Merrill Lynch 318,128.31 1104 8.04%
4 Goldman Sachs 236,643.87 789 5.98%
5 Barclays 231,197.41 895 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 35,007.57 165 6.53%
2 Deutsche Bank 34,880.53 120 6.51%
3 Bank of America Merrill Lynch 31,805.65 97 5.93%
4 BNP Paribas 27,920.60 169 5.21%
5 SG Corporate & Investment Banking 24,398.89 138 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,745.92 80 8.85%
2 Morgan Stanley 16,334.63 83 7.32%
3 Citi 15,972.34 95 7.16%
4 UBS 15,487.17 60 6.94%
5 Goldman Sachs 14,053.61 76 6.30%