In 2009, ISDA invited buy-side firms to join its board. Since then, ISDA has been working to provide a forum in which stakeholders in the over-the-counter derivatives market can discuss challenges, issues and differences. "The industry has always had a divergence of opinions, within the buy side or the sell side and also between the two," said Bill De Leon of PIMCO. "ISDA has focused on allowing all sides to try to reach consensus on major issues. The open dialogue -- and broader membership -- has fostered this environment."

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