1 Oct 2021 14:00

This Market Notice details the Venues approach regarding the ISDA Interest Rate Derivatives Definitions from 4 October 2021

The iSwap EU MTF/SEF CLOBs operate on a mandatorily cleared, anonymous and “void ab initio” basis. Therefore:

• All Interest Rate Derivative Instruments available on our CLOBs will be available to place orders and trade by default against ISDA 2021 Definitions.  We do not intend to create duplicate instruments as the market consensus is that they are economically similar and fungible
• When matching a pair of orders, the trade will be executed and processed by default under the 2021 Definitions
• To accommodate clients that are currently unable to process trades under the 2021 Definitions, iSwap Euro BV will continue support for 2006 Definitions for those clients when submitting trades to Markitwire.

Capitalised terms used in this Market Notice shall have the meaning ascribed to them in the iSwap Venue Rulebook and associated documentation.

Please direct any questions regarding this Market Notice to:

Email: i-swap@icap.com

Post: 

iSwap Euro B.V. 
Vijzelstraat 68 unit 109, 
1017HL Amsterdam
The Netherlands