The International Swaps and Derivatives Association (ISDA), the trade body for the over-the-counter (OTC) derivatives industry, has opened an office in Washington DC to improve its relations with the US government and has made a number of new hires in Europe and North America.

Until now, New York-based ISDA had only ad-hoc representation in Washington through one of its New York-based staff members. The regulatory spotlight which has fallen on the industry prompted the association to open the new office.