ISDA Puts Out Invitation to Tender for ISDAFIX Administrator

The International Swaps and Derivatives Association (ISDA) has put out an Invitation to Tender for the role of benchmark administrator for ISDAFIX rates.
By Jake Safane(2147484770)
The International Swaps and Derivatives Association (ISDA) has put out an Invitation to Tender for the role of benchmark administrator for ISDAFIX rates.

ISDAFIX is a benchmark for annual swap rates for swap transactions worldwide. ISDA has put out the tender in order to align “with evolving best practices in the setting of benchmark rates by establishing a fully automated rate-setting process,” the association says.

The winning administrator will be responsible for the following: governance of all ISDAFIX administrative processes including oversight and decisions of methodology, systems and controls; daily operations, including collection of input data and calculation of ISDAFIX rates; ex-ante and ex-post checks on submissions to ensure the integrity of the benchmark.

Firms have until February 28, 2014 to contact Catherine Farrer (cfarrer@isda.org) in order to receive an Invitation to Tender. Firms then have until March 21, 2014, to submit the tender, and ISDA plans to announce the winner by the end of April.

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