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Paper documents and manual processes continue to dominate the derivatives industry, affecting speed and efficiency. ISDA is confronting these issues with mutualized, tech-centered solutions. From satisfying regulatory requirements to improving document processing, these initiatives are propelling the market into its digital future.
<p>Good morning, everyone.</p> <p>It’s great to be back in Chicago again, a city that is truly steeped in financial history. It’s here that the Chicago Board of Trade introduced the first standardized futures contracts in 1865, a big step on the path to the development of modern derivatives markets. It’s also here that the Chicago Butter and Egg Board, a forerunner of CME Group, was founded in 1898, reinforcing Chicago as a focal point for the trading and risk management of commodities.</p>
<p><span>Good morning, and a very warm welcome to Chicago.</span></p>
<p><span>Recent banking failures in the US and the acquisition of Credit Suisse by UBS are the latest in a series of stress events to have rocked financial markets, which includes the March 2020 dash for cash and the September 2022 UK liability driven investment (LDI) crisis. In the case of Silicon Valley Bank, the collapse appears to have been caused by risk management failures combined with a high interest rate environment. In other cases, such as the dash for cash and the LDI crisis, extreme market volatility caused a liquidity crunch and widespread selling of assets, disrupting...
<p><span>Good morning, everyone. Welcome to ISDA’s Annual Legal Forum. This is the first time we’ve been able to run this particular event in person since before the pandemic, so it’s great to have you all here in the room. I certainly missed having the ability to interact and engage with fellow lawyers at events like these – being able to network, share ideas and collaborate with others is extremely valuable, so thank you all for coming.</span></p>