ISDA Selects S&P Global as Credit Derivatives Determinations Committees Administrator

Key Facts

In a move reflecting the push to strengthen global financial market infrastructure, the International Swaps and Derivatives Association (ISDA) has selected S&P Global Market Intelligence as the new administrator for the Credit Derivatives Determinations Committees (DCs). This appointment is designed to manage administrative tasks and enhance transparency within the credit derivatives market. The shift represents a structural transition toward a non-market-participant decision-making body to ensure the long-term viability and efficiency of the DC process.

S&P Global remains a dominant force in the financial data sector, competing closely with peers like Moody's and MSCI in providing ratings and analytics services. Per market data, the company is consistently expanding its footprint in regulatory data management, a sector that has grown significantly alongside increased oversight of financial derivatives. This new mandate is viewed as a reinforcement of the firm's position in critical market infrastructure, following its major merger with IHS Markit which bolstered its fixed income and derivatives data capabilities.