Supporting G20 Objectives

The IIGC and the industry's commitments to global supervisors

ISDA and the industry have worked in close collaboration with global supervisors to achieve greater levels of counterparty credit risk management, regulatory transparency and operational efficiency. The ISDA Industry Governance Committee (IIGC) is comprised of major dealers and buy side institutions and serves as a forum for market participants to communicate with regulators and to further strengthen the OTC derivatives market infrastructure.

The following materials include information on the structure of the IIGC:

Below are recent industry letters (and supplements) to the global supervisory group, and explanatory press releases which serve as useful summaries.

Click here to see Standardization Documents.


DateTitle / DescriptionDocuments
April 12, 2013
Letter on Margin Requirements for Non-Centrally-Cleared Derivatives
Letter from ISDA, IIF, AFME and SIFMA to the chairs of the BCBS, FSB, CGFS, IOSCO and CPSS (the “five chairs”) on concerns regarding the effects of initial margin (IM) requirements. The letter respectfully requests the chairs consider withdrawing or suspending any IM requirements until the consequences of such requirements have been fully analyzed and clarified.
Margin Requirements for Non-Cleared Derivatives.pdf
November 29, 2012
ISDA Response to the Fourth Financial Stability Board Progress Report on Implementation of OTC Derivatives Market Reforms
Comment letter to the FSB
ISDA response to 4th FSB paper -  final - Nov 2012.pdf
July 31, 2012
ISDA Response to the Third Financial Stability Board Progress Report on Implementation of OTC Derivatives Market Reforms
Comment letter to the FSB
ISDA response to 3rd FSB paper - final - Jul 2012.pdf
November 30, 2011
ISDA Response to the Financial Stability Board Progress Report on Implementation of OTC Derivatives Market Reforms
Comment letter to the FSB
ISDAresponsetoFSBpaperNov2011.pdf
September 26, 2011
Consultative report on OTC derivatives data reporting and aggregation requirements
Comment letter to CPSS-IOSCO
IOSCO-CPSS 20110923final versionv2.pdf
July 29, 2011
Letter to Financial Stability Board (FSB) providing overview of industry achievements
ISDA provides the FSB with an overview of industry achievements over the past year. The letter covers recent developments under the headings of clearing, standardisation, exchange and electronic trading, trade repositories and financial law reform. There is also an appendix details of various studies and resources published by ISDA over the past months, which provide some background to the marketplace and to ISDA’s work.
FSBletter29jul.pdf
June 30, 2011
Implementation Plan for Unique Product Identifiers
Industry implementation plan for UPI and product taxonomies for the OTC derivative asset classes.
ISDA UPI Implementation Plan Final.pdf
June 14, 2011
ISDA Announces New IIGC Co-chairs
Press Release
IIGC CoChair Release.pdf
May 13, 2011
ISDA Responds to the Financial Stability Board Report on OTC Derivatives Markets Reforms Implementation (IIGC commitments)
Cover Letter / Paper
ISDA response to FSB paper - final - May 2011.pdf
March 31, 2011
Commitments (IIGC)
Letter / Press Release
Supervisory_Commitment_Letter-31_March_2011_FINAL.pdf CommitmentLetterRelease20110405.pdf