Download Deriv Trading Platform India 2023

India, one of the world's largest and fastest growing economies, is a prime target for investors. It boasts an expansive market, favorable demographics, and a government that is actively seeking foreign direct investment, positioning India's economy for success in the years ahead.

The year ahead will be a crucial period in Indian politics, as Prime Minister Modi uses this period to lay the groundwork for an exciting 2024 campaign. USIP experts Sameer Lalwani, Daniel Markey and Vikram Singh discuss what to watch out for as India moves into 2019.

Featured ISDA Letter

In a letter sent out recently by the International Swaps and Derivatives Association (ISDA), ISDA expresses its desire for exemptions from provisions in the UK National Security Bill regarding foreign influence registration. They express concern that these clauses could potentially capture everyday commercial interactions with key public sector stakeholders which are essential in maintaining financial market safety and efficiency.

ISDA recently issued a Supplement and Protocol that aim to provide improved fallbacks for derivatives transactions that reference interest rate benchmarks such as LIBOR, in response to feedback received during their recent consultation process. These fallbacks provide enhanced protection for market participants when an established benchmark rate ceases to exist or no longer accurately reflects the underlying market and economic reality it should represent.

To implement the fallback options, parties will need to submit a Self-Disclosure Letter to ISDA using the same ISDA Amend tool they would use for any other ISDA protocol submission. The Self-Disclosure Letter enables market participants to exchange pertinent data with their counterparties and confirm whether certain SEC rules must be observed.

They will be able to prepare for the new SEC rules by drawing upon existing agreements and information. Furthermore, ISDA has developed both long-form and short-form bilateral amendment templates that enable parties to amend their Protocol Covered Documents bilaterally with their counterparties.

Though these amendments won't be made available immediately, they are expected to become accessible later in 2023 in accordance with SEC rules established as part of Dodd-Frank Act implementation.

The protocol is open to both ISDA members and non-members, and can be completed online by those seeking to abide by the new SEC rules. It includes information that needs to be exchanged between respondents as well as a dynamic version of the US Self-Disclosure Letter that will guide them through submissions.

ISDA is also creating a second top-up protocol, which will enable entities that have not adhered to either the August 2012 or March 2013 Dodd-Frank protocols to amend their agreements with adhering parties in order to comply with SEC SBS rules. This second protocol, set to go live in 2021, will encompass many of these SBS regulations implemented since passage of the Dodd-Frank Act.

In Review February 2023

February 2023 was a hectic month. It started with an exciting trip to Vancouver, where the Devils faced off against an aggressive Vancouver team that had recently traded one of their top scorers ahead of the NHL Trade Deadline. After taking a week off, they returned to Seattle and suffered a hard-fought loss against a superior squad. Ultimately, Dougie Hamilton emerged as All About the Jersey Devil of the Month for February.

In January, the stock market declined due to worries over global trade wars and tightening financial conditions on consumer spending. However, a second reading of Q4 GDP growth showed that it had strengthened despite weaker energy demand and the Federal Reserve removing its stimulus program. Chipmaker Nvidia posted strong results and announced an expanded involvement in artificial intelligence; technology stocks made up half the S&P 500 while real estate and healthcare saw negative returns. The Eurozone gained as its currency appreciated against the US dollar.

ISDA recently published a whitepaper on digital asset derivatives and announced it would expand its library of close-out netting opinions to include coverage for digital assets by 2023. Furthermore, the first of two planned white papers addressed customer digital assets held with intermediaries and bankruptcies within the digital asset markets.