LONDON--(BUSINESS WIRE)--The International Swaps and Derivatives Association, Inc. (ISDA) has today announced the appointment of Katherine Tew Darras as General Counsel.
As General Counsel, Ms. Tew Darras will lead ISDA’s efforts to develop the legal standards, documentation and opinions necessary to support global cleared and non-cleared derivatives businesses. This includes the initiative to develop documentation and protocols to facilitate compliance with new derivatives regulations including margin rules for non-cleared derivatives, the expansion of the ISDA Resolution Stay Jurisdictional Modular Protocol, and the ongoing publication of close-out netting, collateral and clearing opinions.
Ms. Tew Darras joined ISDA in November 2001 as assistant general counsel, and was named general counsel for the Americas in 2008. She has served as acting General Counsel since January 2016.
Prior to her career at ISDA, Ms. Tew Darras was an associate at international law firm Salans LLP, where she worked in the financial institutions group. She will continue to be based in ISDA’s New York office.
“ISDA has developed an unrivalled reputation for legal expertise in the derivatives market, going back to the publication of the ISDA Master Agreement. Katherine has been with ISDA for the past 15 years and knows the organization inside and out, and I am counting on her to provide sound legal advice as General Counsel, just as she has throughout her time at ISDA. We are delighted she will continue to provide critical leadership to this organization during an important period of market change,” said Scott O’Malia, ISDA’s Chief Executive.
“New regulations and evolving market structures are changing the dynamics of the derivatives market, while new technology is altering how the derivatives business in run. It’s vital that ISDA continues to evolve its documentation and standards, and the means of delivering this material, to keep pace with these changes. It’s a very exciting time for ISDA, and I’m looking forward to making sure ISDA continues to lead these issues,” said Ms. Tew Darras.
Since 1985, ISDA has worked to make the global derivatives markets safer and more efficient. Today, ISDA has over 850 member institutions from 67 countries. These members comprise a broad range of derivatives market participants, including corporations, investment managers, government and supranational entities, insurance companies, energy and commodities firms, and international and regional banks. In addition to market participants, members also include key components of the derivatives market infrastructure, such as exchanges, intermediaries, clearing houses and repositories, as well as law firms, accounting firms and other service providers. Information about ISDA and its activities is available on the Association's website: www.isda.org.
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