The 2010 ISDA ERCOT Protocol (the "Protocol") allows market participants to efficiently amend their ERCOT swap and related transactions as well as ISDA and EEI master agreements to take account of ERCOT’s transition to a nodal market design (anticipated to take effect December 1, 2010). Outstanding trading documentation between parties adhering to the Protocol will be automatically deemed amended in accordance with the Protocol’s terms when the Protocol becomes effective (the "Effective Date"). In this way a protocol eliminates the need for market participants to amend their outstanding trading documentation with all relevant counterparties individually/on a bilateral basis.
The Protocol is open to ISDA members and non-members. The Protocol will be open between November 19, 2010 and November 29, 2010 (the "Cut-off Date"). ISDA will not accept any further adherence letters after this date.