Making defaulting “too painful to bear”
In a brand new video, our leadership team speak candidly about the ICA and the challenges ahead.
Filmed during our San Francisco trade event, Jean-Marc Derossis (ICA President), Jürg Reinhart (First Vice) and Salman Ispahani (Second Vice) talk about making progress in enforcing awards and preventing members from circumventing the ICA ‘default list’ and trading with defaulters.
“The greatest challenge for the ICA is to make defaulting too painful to bear,” says Jean-Marc. He also acknowledges the work that has been accomplished so far and the progress that has been made. “The last thing I want is to lose the momentum, we need to keep going and we need to ensure that when volatility is back in the market that contract sanctity is respected.”
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