Treasury clearing overhaul drives shifts in collateral, hedging costs: ISDA report

24th September, 2026

Aravind Bulusu
US dollar gig

The International Swaps and Derivatives Association (ISDA) said the transition to mandatory central clearing is reshaping the structure of the US Treasury market, with implications extending beyond Treasury cash and repo markets.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
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