MFA submits comments to CPMI and IOSCO on CCP default auctions best practices

On September 27, MFA and other trade associations submitted joint comments to the Committee on Payments and Market Infrastructures (CPMI) and the Board of the International Organization of Securities Commissions (IOSCO) in response to the “Central counterparty default management auctions – Issues for consideration” report.

The paper reflects current practices across the industry, as well as responses to a 2019 CPMI-IOSCO discussion paper. The report and its accompanying cover note observed three areas for further work by the industry, which are directed at the objectives of the 2019 discussion paper.