isdafix造句

• Swap dealers also used ISDAFIX to determine the market value of swap products.
• As part of the Libor scandals from 2012 the ISDAFIX fixes came in for criticism.
• ISDAFIX sets were also often referred to in determining close-out payments if interest rate swaps were to by terminated early.
• The ISDAfix rates used are calculated daily for an independent organisation, the International Swaps and Derivatives Association, from quotes from a large panel of banks.
• ISDAFIX was developed in 1998 as a cooperative effort of the International Swaps and Derivatives Association ( ISDA ) with Reuters ( now Thomson Reuters ) and InterCapital Brokers ( now ICAP ).
• The main purpose of the collection of ISDAFIX fixes was to determine an exercise price to facilitate swaptions ( that is, options to enter into fixed rate swaps ) with cash settlement.
• In 2014, more than a dozen financial institutions, including Bank of America, Barclays, BNP Paribas, Citigroup, and Wells Fargo, faced allegations of attempting to manipulate the ISDAfix rate used for derivative contracts.
• ISDA also announced changes to ISDAFIX . The US dollar sets and others were switched to a market-based, automated calculation process; it was also agreed to further reduce the portfolio of offered reference rates when the associated swap market is insufficiently liquid.
• ICAP, which in the wake of the Libor scandal paid penalties in the amount of 87 million dollars to British and American authorities, during the ongoing investigations in early 2014 lost its role in the data collection for and calculation of the ISDAFIX rates for the U . S . dollar.
• ISDAFIX fixes as of February 2014 was determined for four currencies ( Euros, British pounds, Swiss francs, U . S . dollars ), each in different maturities; the rates for the Hong Kong dollar and the Japanese yen were suspended in April 2013 and January 2014, respectively, because the withdrawal of individual banks reduced the number of available quotations.
• The allegations were based on a research conducted and compiled by Fideres, which alleged that the defendant banks had submitted the same or virtually the same dollar ISDAfix rate quotes almost every day from 2009 to 2012,  down to five decimal points, " resulting in the official ISDAfix rate and the banks contributions being identical to the ICAP reference rate " well over 90 % of the time for at least four years . 
• The allegations were based on a research conducted and compiled by Fideres, which alleged that the defendant banks had submitted the same or virtually the same dollar ISDAfix rate quotes almost every day from 2009 to 2012,  down to five decimal points, " resulting in the official ISDAfix rate and the banks contributions being identical to the ICAP reference rate " well over 90 % of the time for at least four years .