ISDA hires consultant for benchmark rate-swap process

ISDA has hired consultancy Oliver Wyman Group to examine ISDAFIX, which U.S. regulators are scrutinizing. The effort is intended to benchmark the process for determining that ISDAFIX is in accord with best practices as articulated in the U.K.'s Wheatley review. "As part of that process, some best practices were articulated for the setting of these rates," an ISDA spokesman said. "We anticipated during that review that we'd want to do the same thing for ISDAFIX."

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