ISDA CEO Scott O’Malia provided an update on efforts being made to support the market ’s response to RFRs at the group 's AGM in Hong Kong . Highlights included reaching a clear market consensus for technical adjustments , developing robust , standardised fallback mechanisms for derivatives markets , and , importantly , agreeing that a consistent approach should be taken to other IBORs . ISDA is also about to undertake a study on pre - cessation triggers for derivatives , technical and term adjustments for US dollar LIBOR , HIBOR and CDOR , and is working to develop final details for fallbacks , which it plans to complete by the end of 2019 .
ISDA CEO Scott O’Malia provided an update on efforts being made to support the market’s move to RFRs at the group's AGM in Hong Kong. Highlights included reaching a clear market consensus for technical adjustments, developing robust, standardised fallback language for derivatives contracts, and, importantly, agreeing that a consistent approach should be applied to other IBORs. ISDA is also about to undertake a consultation on pre-cessation triggers for derivatives, spread and term adjustments for US dollar LIBOR, HIBOR and CDOR, and is working to develop final details for fallbacks, which it plans to complete by the end of 2019.