ICMA and ISDA to combine CDM model
25 November 2022 Switzerland
Image: VectorMine/stock.adobe.com
The International Capital Market Association (ICMA) is to combine its Common Domain Model (CDM) for repo and bonds with the International Swaps and Derivatives Association’s (ISDA’s) version.
The move, expected in the coming weeks, will allow members of the associations access to one, single model that supports different repo structures and bond settlement, securities lending and derivatives.
ICMA’s latest CDM SteerCo meetings have focused on modelling the structure and lifecycle events of evergreen and extendible repo.
These meetings also discussed general collateral baskets, tri-party repo and announced that the second stage of modelling repo workflows is nearly complete.
A CDM SteerCo meeting is scheduled for 15 December to provide a detailed update on the CDM initiative.
According to ICMA, the CDM plays a key role in supporting the digital transformation of capital markets, fostering interoperability and cohesiveness through FinTech Open Source Foundation’s (FINOS’s) open-source framework.
ISDA, ICMA and the International Securities Lending Association (ISLA) jointly appointed FINOS to run the CDM in September. The three organisations will migrate the CDM to FINOS by the start of 2023.
The move, expected in the coming weeks, will allow members of the associations access to one, single model that supports different repo structures and bond settlement, securities lending and derivatives.
ICMA’s latest CDM SteerCo meetings have focused on modelling the structure and lifecycle events of evergreen and extendible repo.
These meetings also discussed general collateral baskets, tri-party repo and announced that the second stage of modelling repo workflows is nearly complete.
A CDM SteerCo meeting is scheduled for 15 December to provide a detailed update on the CDM initiative.
According to ICMA, the CDM plays a key role in supporting the digital transformation of capital markets, fostering interoperability and cohesiveness through FinTech Open Source Foundation’s (FINOS’s) open-source framework.
ISDA, ICMA and the International Securities Lending Association (ISLA) jointly appointed FINOS to run the CDM in September. The three organisations will migrate the CDM to FINOS by the start of 2023.
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