Release Date: September 17, 2015
Contact: Katrina Cavalli, 212-313-1181, [email protected]
 

New York, NY, September 17, 2015 – SIFMA’s Asset Management Group (AMG) has joined the International Swaps and Derivatives Association in the new industry symbology project aimed at developing an open-source standard derivatives product identification system for pre-trade, trading and post-trade workflows. The AMG Derivatives Clearing Standardizations Working Group has been developing a positional identifier for cleared derivatives since early 2014, bringing together asset managers, custodians, CCPs, SEFs, and other service providers to propose operational standards to allow for more efficient trade processing for all involved parties in the cleared derivatives space.

As part of the ISDA symbology project, SIFMA joins a motivated industry consortium of derivatives markets constituents working towards the same goal with the intention to develop, in an accelerated timeline, identifiers for credit, equity and rates derivatives that are globally accepted by regulators, and implemented by trade counter-parties and service providers, and widely utilized among all the industry players to identify derivatives assets.

“SIFMA’s Asset Management Group is excited to participate in this initiative, and appreciates the opportunity to share the work of our existing position identifier initiative to be leveraged by the ISDA symbology project”, said Elisa Nuottajarvi, senior associate at SIFMA. “We are thankful to the individuals that participated in the working group and shared their ideas and contributions, and look forward to their continued engagement and alignment of the group to the symbology project.”