Ring-Fencing Will Leave Buyside Unprotected, ISDA Says.

Limiting the ability of so-called ring-fenced banks to trade interest rates, fx and commodity derivatives will be overly restrictive and could prevent banks from offering adequate protection to clients. That’s the view of Fiona Taylor, director of the European regulatory team at the International Swaps and Derivatives Association in London, in a letter to HM Treasury about the banking reform bill.